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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
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 and on the basis of direct labor hours in Factory 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 fill in the blank of $per machine hourb. Determine the factory overhead rate for Factory fill in the blank of $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 and indicate whether the amounts representoverapplied factory overheadorunderapplied factory overhead.Item
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