Eactory Overhead Rates, Entries, and Account Balance Montenegro Metal Company operates two factories, The company applies foctory ovestiead to jobs on the basis of machina hours in factory 1 and on the basis of direct bbor hours in Factory 2. Estimated factory overhead costs, direst labor hours, and machine hours are as follows: Factory 1 Factory 2 Estimated factory overheod cost for fiscal vear beginning March 1 $12,000,000 $8,360,000 Estimated direct lobor hours for vear 440,000 Estimated machine hours for year Actual factory overhead costs for March $1,012,600 $69$,000 Actual direct Labor hours for March 36,250 Actual machine hours for March 27,500 a. Determine the factory overhead inte for Factory 1 . Round the answer to two decimal places. per machine hour b. Determire the factory overtivad roto for Foctory 2. Round the answer to two decimal places. per direct labor hour c. Joumalize the ertolies to apply foctory oworhoad to production in each foctory for March When required, round vour answers to the nearest dollar. If an amount box does not require an entry, leave it blank. Previous Next