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 $416,200 year beginning March 1 Estimated direct labor hours for year $867,300 14,700 Estimated machine hours for year 20,810 Actual factory overhead costs for March $33,210 $74,760 Actual direct labor hours for March 1,320 Actual machine hours for March 1,620 a. Determine the factory overhead rate for Factory 1. per machine hour b. Determine the factory overhead rate for Factory 2. per direct labor hour