A company estimates the following manufacturing costs at the beginning of the period: direct labor, $512,000; direct materials, $188,000; and factory overhead, $138,000. 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. Numerator: Overhead Rate Denominator: = Overhead Rate = Overhead Rate =