Sandhill Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $512,500 for the year, and machine usage is estimated at 125,000 hours. For the year, $540,000 of overhead costs are incurred and 130,000 hours are used. (a) Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal place, e.g. 52.75.) (b) Overhead rate $ Save for Later 4.1 per machine hour What is the amount of under- or overapplied overhead at December 31? Overhead $ Save for Later Attempts: 0 of 1 used Submit Answer Attempts: 0 of 1 used Submit Answer