View Policies Current Attempt in Progress Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $317.250 for the year, and machine usage is estimated at 126,900 hours. For the year, $334,900 of overhead costs are incurred and 130,000 hours are used. Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, eg. 1.25.) Manufacturing overhead rate per machine hour List of Accounts What is the amount of under or overpplied overhead at December 31 Manufacturing Overhead $ List of Accounts MacBook Air What is the amount of under-or overapplied overhead at December 31? Manufacturing Overhead $ List of Accounts Prepare the adjusting entry to assign the under-or overapplied overhead for the year to cost of goods sold. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit List of Accounts Savefonater Attempts: 0 of 2 used Submit Answer MacBook Air