eBook Factory Overhead Rates and Account Balance Prostheses Industries operates two factories. The manufacturing operations of Factory 1 are machine intensive, while the m intensive. The company applies factory overhead to jobs on the basis of machine hours in Factory 1 and on the basis of dir overhead costs, direct labor hours, and machine hours are as follows: Factory 1 Factory 2 Estimated factory overhead cost for fiscal year beginning August 1 $386,100 $764,400 Estimated direct labor hours for year 9,800 Estimated machine hours for year 14,850 Actual factory overhead costs for August $30,910 $65,890 Actual direct labor hours for August 880 Actual machine hours for August 1,160 a. Determine the factory overhead rate for Factory 1. Round your