Question 2 of 4 View Policies Current Attempt in Progress -/30 E Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $354,480 for the year, and machine usage is estimated at 126,600 hours. For the year, $378,440 of overhead costs are incurred and 131,800 hours are used. (a) Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, e.g. 1.25.) Manufacturing overhead rate per machine hour eTextbook and Media List of Accounts Save for Later Attempts: 0 of 5 used Submit Answer