A company estimates the following manufacturing costs at the beginning of the period: direct labor, $496,000; direct materials, $216,000; and factory overhead, $122,000. 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. 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 Denominator: Numerator: 1 Overhead Rate Overhead Rate / (Required Required 2 > A company estimates the following manufacturing costs at the beginning of the period: direct labor, $496,000; direct materials, $216,000; and factory overhead, $122,000. 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. 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 materials. Overhead Rate Denominator: Numerator: 1 11 Overhead Rate Overhead Rate ! Il 7 11