Exercise 3.21 a-c Millefeuille Company applies perating overhead to photocopying jobs on the basis of machine hours used. It expects overhead costs to total $275,310 for the year and estimates machine usage at 119,700 hours. For the year, the company incurs $287,100 of overhead costs and uses 127,600 hours. Calculate the service overhead rate for the year. (Round answer to 2 decimal places, e.g. 15.25.) Service overhead rates per machine hour SHOW LIST OF ACCOUNTS Calculate the amount of under-or over-applied overhead at December 31. Overhead Assuming the under- or over-applied overhead for the year is not allocated to inventory accounts, prepare the adjusting entry to assign the amount to cost of jobs finished. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS