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 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 $639,300 $666,700 Estimated direct labor hours for year 11,300 Estimated machine hours for year 21,310 Actual factory overhead costs for March $51,040 $57,770 Actual direct labor hours for March 1,020 All work saved Save and Exit Submit Assignment for Grading C b. Determine the factory overhead rate for Factory 2. per direct labor hour Food Check My Work 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 overhead to production in each factory for March Factory 1 Work in Process Factory Overhead Factory 2 Work in Process Factory Overhead Feedback Check My Work C. Increase the work in process and reduce the factory overhead. 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 Debit Underapplied Overapplied Factory 2 Credit Check My Work 9 more Check My Work uses remaining Next > All work saved Save and Ex Submit Assignment for Grading ORI 72 Vo