Factory Overhead Rates, Entries, and Account Balance Ecligse solar Conpany operates two factories. 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 foctory everhead costs, direct labor hours, and machine hours are as follows: a. Determine the factory overhead rate for factory 1. per machine hour b. Determine the factocy ouerhead rate for Factary 2 . per direct labor hour roin r wan a-b. factory 1 overhead is applied based on machine hours. Factory 2 overhead is applied based on direct labor hours. C. Journalize the entries to apply factory everbead to production in each factory for August, if an amount box does not require an entry, leave it biark. F chack My Win c. Inerease the work in process and reduce the factory overthead. d. Determine the balances of the factory overhead accounts for each factory at of August 31 , and indicate whether the amaunts represent iveraphiied factory over heaif or underapplied factory overhead. Factory 1 Factory 2 Fentias r coneck Mr Wor d. Comipare the actual cost and the appiled cost