Sheridan Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $290,030 for the year, and machine usage is estimated at 126,100 hours. For the year. $308.530 of overhead costs are incurred and 130,100 hours are used. (a) Your answer is incorrect Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, eg. 1.25) Manufacturing overhead rate $ per machine hour e Textbook and Media List of Accounts Save for Later Attempts: 1 of 3 used Submit