A company estimates the following manufacturing costs at the beginning of the period: direct labor, $488,000; direct materials, $191,000; and factory overhead, $127,000. 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. Compute its predetermined overhead rate as a percent of direct labor. A company estimates the following manufacturing costs at the beginning of the period: direct labor, $488,000; direct materials, $191,000; and factory overhead, $127,000. 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. Compute its predetermined overhead rate as a percent of direct materials