View Policies Show Attempt History Current Attempt in Progress Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $309,680 for the year, and machine usage is estimated at 126,400 hours. For the year, $330,930 of overhead costs are incurred and 131,400 hours are used. (a) Your Answer Correct Answer Your answer is correct Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, ex. 1.25.) $ 245 Manufacturing overhead rate per machine hour Attempts: 2 of 2 used (b) Your Answer Correct Answer Your answer is correct What is the amount of under or overapplied overhead at December 31? Manufacturing Overhead 9000 1 Underapolied eTextbook and Media Assistance Used Solution List of Accounts Attempts: 2 of 2 used (c) Prepare the adjusting entry to assign the under or overapplied overhead for the year to cost of goods sold. (Credit occount titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit 9000 9000 Attempts: 0 of 2 used Submit Answer Save for Later Last saved 9 minutes ago Saved work will be auto-submitted on the due date