At the beginning of the year, a company estimates the following manufacturing costs for the next period: direct labor, $480,000; direct materials, $180,000; and factory overhead, $147,000. 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. Req 1 Req 2 Compute its predetermined overhead rate as a percent of direct labor. Overhead Rate Choose Denominator: Overhead Rate Overhead Rate oose Numerator: Req 2 >