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Sunland Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead...

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Accounting

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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) Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, e.s. 1.25.) Manufacturing overhead rate per machine hour hat is the amount of under- or overapplied overhead at December 31? lanufacturing Overhead Prepare the adjusting entry to assign the under-or overapplied overhead for the year to cost of goods sold. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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