Sunland Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $ 282.000 for the year, and machine usage is estimated at 117.500 hours. For the year. $ 302,680 of overhead costs are incurred, and 122,200 hours are used. (a) Your answer is correct Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, e.g. 1.25.) Manufacturing overhead rate 24 per machine hour (b) Your answer is partially correct. What is the amount of under-or overapplied overhead at December 31? Manufacturing Overhead $ Underapplied