7 A company estimates the following manufacturing costs at the beginning of the period: direct labor, $500,000; direct materials, $215,000; and factory overhead, $144,000. Required: 1. Compute its predetermined overhead rate as a percent of direct labor. 2. Compute its predetermined overhead rate as a percent of direct materials. 8 03:03:26 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute its predetermined overhead rate as a percent of direct labor. Overhead Rate Numerator: Denominator: Overhead Rate Overhead Rate Ch.15 Quiz i Saved Help Save & Exit Submit 9 A manufacturer incurred the following actual factory overhead costs: indirect materials, $7,300; indirect labor (factory wages payable), $10,100; depreciation on factory equipment, $13,100; factory utilities (utilities payable), $910; and factory insurance expired, $610. Prepare journal entries to record (a) indirect materials, (b) indirect labor, and (c) other actual overhead costs. View transaction list 03:02:34 Journal entry worksheet 2 3 Record indirect materials. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal