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Factory 1Factory 2 Estimated factory overhead cost for fiscal year beginning March$1,450,400$800,250 Estimated direct labor hours for year Estimated machine hours for year Actual factory
Factory 1Factory 2 Estimated factory overhead cost for fiscal year beginning March$1,450,400$800,250 Estimated direct labor hours for year Estimated machine hours for year Actual factory overhead costs for March Actual direct labor hours for March Actual machine hours for March 24,250 51,800 $116,120 $98,220 2,920 4,200 Required a. Determine the factory overhead rate for Factory 1 b. Determine the factory overhead rate for Factory 2. c. Journalize the Mar. 31 entries to apply factory overhead to production in each factory. Refer to the chart of accounts for the exact wording of the account titles. d. Determine the balances of the factory overhead accounts for each factory as of March 31, and indicate whether the amounts represent overapplied factory overhead or underapplied factory overhead
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