Question: Part 2 - Problem: (15 Points) Pronto Kopy Company applies operating overhead to and machine usage is estimated at 125,000 hours For the year, $308,000

Part 2 - Problem: (15 Points) Pronto Kopy Company applies operating overhead to and machine usage is estimated at 125,000 hours For the year, $308,000 of overhead costs are incurred and 130,000 hours are used. of machine hours used. Overhead costs are expected to total $320,000 for the year, Instructions. (a) Compute the service overhead rate for the year. (b) What is the amount of under- or overapplied overhead at December 31? (c) Assuming the under- or overapplied overhead for the year is not allocated to inventory accounts, prepare the adjusting entry to assign the amount to cost of jobs fi nished

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