At the beginning of the year, a company estimates the following manufacturing costs for the next period: direct labor, $540,000; direct materials, $209,000; and factory overhead, $121,000. 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. Reg 1 Reg 2 Compute its predetermined overhead rate as a percent of direct labor. Overhead Rate Choose Denominator: Choose Numerator: Overhead Rate Overhead Rate Reg 2 > Reg 1 Reg 2 Compute its overhead cost as a percent of direct materials. Overhead Rate Choose Denominator: Choose Numerator: Overhead Rate Overhead Rate (Reg 1