Factory Overhead Rates, Entries, and Account Balance

Montenegro Metal Company 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 factory overhead costs, direct labor hours, and machine hours are as follows:

Factory $1$ Factory $2$

Estimated factory overhead cost for fiscal

year beginning March $1$ $$612,600$ $$620,600$

Estimated direct labor hours for year $10,700$

Estimated machine hours for year $20,420$

Actual factory overhead costs for March $$48,890$ $$53,450$

Actual direct labor hours for March $960$

Actual machine hours for March $1,590$

Question Content Area

a$.$ Determine the factory overhead rate for Factory $1.$

$fill in the blank $6$fe$582$fccfd$7$ff$0\_1$

$47,700$

per machine hour

b$.$ Determine the factory overhead rate for Factory $2.$

$fill in the blank $6$fe$582$fccfd$7$ff$0\_2$

$55,680$

per direct labor hour