A company estimates the following manufacturing costs for the next period: direct labor, $480,000; direct materials, $217,000; and factory overhead, $126,000. Required: 1. Compute its predetermined overhead rate as a percent of direct labor. 2. Compute its overhead cost as a percent of direct materials. Complete this question by entering your answers in the tabs below. ces Required 1 Required 2 Compute its predetermined overhead rate as a percent of direct labor. Overhead Rate Choose Numerator: Choose Denominator: Overhead Rate 1 Overhead Rate 1 1 Required Required 2 >