Factory Overhead Rates, Entries, and Account BalanceEclipse 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:Item Line DescriptionQuestion Content Areaa. $$Determine the factory overhead rate for Factory $1.$fill in the blank $1$ of $2$$$$per machine hourb. $$Determine the factory overhead rate for Factory $2.$fill in the blank $2$ of $2$$$$per direct labor hourQuestion Content Areac. $$Journalize the entries to apply factory overhead to production in each factory for August. If an amount box does not require an entry, leave it blank.TransactionAccountDebitCreditQuestion Content Aread. $$Determine the balances of the factory overhead accounts for each factory as of August $31,$ and indicate whether the amounts represent$$overapplied factory overhead$$or$$underapplied factory overhead.Item