Chapter 3 Quiz i Saved Help Save & Exit Submit Karvel Corporation uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. For the month of August, Karvel estimated total manufacturing overhead costs at $300,000 and total machine-hours at 75,000 hours. Actual results for the period were manufacturing overhead costs of $290,000 and 75,000 machine-hours. As a result, Karvel would have: Multiple Choice applied more overhead to Work in Process than the actual amount of overhead cost for the year. O applied less overhead to Work in Process than the actual amount of overhead cost for the year. O applied an amount of overhead to Work in Process that was equal to the actual amount of overhead. O found it necessary to recalculate the predetermined overhead rate