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	$418,680		$863,100
Estimated direct labor hours for year				13,700
Estimated machine hours for year		23,260
Actual factory overhead costs for March		$33,390		$74,390
Actual direct labor hours for March				1,230
Actual machine hours for March		1,810

a. Determine the factory overhead rate for Factory 1. $fill in the blank dda70203d03efbe_1 per machine hour

b. Determine the factory overhead rate for Factory 2. $fill in the blank dda70203d03efbe_2 per direct labor hour

c. Journalize the entries to apply factory overhead to production in each factory for March. If an amount box does not require an entry, leave it blank.

Factory 1		fill in the blank 53e12205a000f88_2	fill in the blank 53e12205a000f88_3
		fill in the blank 53e12205a000f88_5	fill in the blank 53e12205a000f88_6
Factory 2		fill in the blank 53e12205a000f88_8	fill in the blank 53e12205a000f88_9
		fill in the blank 53e12205a000f88_11	fill in the blank 53e12205a000f88_12

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.

Factory 1	$fill in the blank 0907ab027f95026_1
Factory 2	$fill in the blank 0907ab027f95026_4