Factory Overhead Rates, Entries, and Account Balance Edipse Solar Company operates two factories. The company applies factory overhesd 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: a. Determine the foctory overhead rate for Factory 1. per machine hour b. Determine the factory overhead rate for Factory 2 . per direct labor hour t Oeck Mr wos a-b. Factory 1 . overhead is applied based on machine hours. Factory 2 overhead is applied based on direct labor hours. d. Determine the balances of the factory overhead accounts for each factory as of August 31 , and indicate whether the amounts represent overapplied factory overned or underapplied factory overhead, Factory 1 Factory 2