Exercise 15-17 Overhead rate calculation, allocation, and analysis LO P3 Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during 2017: direct materials costs, $730,000; direct labor costs, $3,800,000; and factory overhead costs applied, $2,280,000. 1. Determine the company's predetermined overhead rate for 2017. 2. Assuming that the company's $79,000 ending Work in Process Inventory account for 2017 had $28,000 of direct labor costs, determine the inventory's direct materials costs. 3. Assuming that the company's $570,000 ending Finished Goods Inventory account for 2017 had $314,000 of direct materials costs, determine the inventory's direct labor costs and its overhead costs. Complete this question by entering your answers in the tabs below Required 1Required 2 Required 3 Determine the company's predetermined overhead rate for 2017. erhead Rat Choose Numerator: Choose Denominator: Overhead Rate Overhead rate