Factory Overhead Rates, Entries, and Account Balance Sundance Solar 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 dret labor hoers i ady Estimated factory overhead costs, direct labor hours, and machine hours are as follows Estimated factory overhead cost for fiscal year beginning March 1 $486,980 $970,200 Estimated direct labor hours for year Estimated machine hours for year Actual factory overhead costs for March Actual direct labor hours for March Actual machine hours for March 15,400 18,730 $38,910 $94,070 ,390 1,460 for Factory 1 mine the factory overhead rate per machine hour b. Determine the factory pveread rate for Factory 2 labor hou etries to apply factoryo