Factory Overhead Rates and Account Balance Prostheses Industries operates two factories. The manufacturing operations of Factory 1 are machine intensive, while the manufacturing operations of Factory 2 are labor intensive. The company applies factory overhead to jobs on the basis of machine hours in Factory 1 and on the basis of direct labor hours in Factory 2. Estimated factory overhead costs, direct labor hours, and machine hours are as follows: Factory 1 Factory 2 Estimated factory overhead cost for fiscal 352,170 699,60 10,600 year beginning August1 Estimated direct labor hours for year Estimated machine hours for year Actual factory overhead costs for August Actual direct labor hours for August Actual machine hours for August a. Determine the factory overhead rate for Factory 1. Round your answer to the nearest cent. 16,770 $28,200 $60,190 950 1,310 per machine hour b. Determine the factory overhead rate for Factory 2. Round your answer to the nearest cent. per direct labor hour