A company estimates the following manufacturing costs for the next period: direct labor, $500,000; direct materials, $196,000; and factory overhead, $130,000. 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. Required 1 Required 2 Compute its predetermined overhead rate as a percent of direct labor. Choose Numerator: Overhead Rate Choose Denominator: Overhead Rate Overhead Rate Required 1 Required 2 >