Instructions Montenegro Metal Company operates two factories. The company applies factory overhead to jobs on the basis of machine Tour 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 fecal year beginning March 1 $1,442.000 $912,600 Estimated direct labor hours for your 25.350 Estimated machine hours for year 51500 Actual factory overhead costs for March $115, 110 S103210 Actual direct labor hours for March 2.820 Actual machine hours for March 4.100 Required: a. Determine the factory overhead rate for Factory 1. b. Determine the factory overhead rate for Factory 2 c. Journalize the Mar 31 entries to apply factory overhead to production in each factor der Marth. Refer to the chart of accounts for the end wording of the account tos CNOW journals do not use lines for journal explanations Everyds on a journal papele used for det er ord entries. CNOW journals will automatically indent a credit entry when a credit amount is entered d Determine the balances of the factory overhead accounts for each factory as of March 3t and indicate whether the amounts represent veral factory.creador del rector. Enter your answer as a positive number Check My Work 3 more Check My Work uses remaining of Accounts ASSETS REVENUE 410 Sales 610 Interest Revenue 110 Cash 121 Accounts Receivable 125 Notes Receivable 126 Interest Receivable 131 Materials EXPENSES 132 Work in Process 133 Factory Overhead 134 Finished Goods 141 Supplies 142 Prepaid Insurance 143 Prepaid Expenses 510 Cost of Goods Sold 520 Wages Expense 531 Selling Expenses 532 Insurance Expense 533 Utilities Expense 534 Office Supplies Expense 540 Administrative Expenses 560 Depreciation Expense-Factory 590 Miscellaneous Expense 710 Interest Expense 181 Land 191 Factory 192 Accumulated Depreciation-Factory LIABILITIES 210 Accounts Payable 221 Utilities Payable 231 Notes Pavable My Work 3 more Check My Work uses remaining LIABILITIES 210 Accounts Payable 221 Utilities Payable 231 Notes Payable 236 Interest Payable 241 Lease Payable 251 Wages Payable 252 Consultant Fees Payable EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends My Work 3 more Check My Work uses remaining. Joumal c Journalso the Mar 31 entry to apply factory overhead to production in Factory for March. Refer to the chart of accounts for the exact wording or ne account tos. CNOW ournals do not use lines for joumal explanations. Every line on a journal page is used for debitor credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered PAGE 1 JOURNAL ACCOUNTING EQUATION CREDIT ASSETS LIABILITIES POST. REF EQUITY DATE DESCRPTION Now jumate the second Mar 31 typy tectory Overhead to production In Factory for Merch. Refer to the chart of accounts for the exact wording of the account the CNOW journals do not use the formal explanation Every line on a journal page is used for debitor credit entries CNOW uma automatically inderstort entry when a crear armounted PADED ACCOUNTING EQUATION JOURNAL ASSETS TOUT DEST POST DATE Previous Not > Ched: My Work mors Check My Working Grade Now journalize the second Mar. 31 entry to apply factory overhead to production in Factory 2 for March. Refer to the chart of accounts for the exact wording of the countries CNOW Journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW joumal wir automatically indert a credit erway when a creer amount is entered. DE 10 ACCOUNTING EQUATION JOURNAL LANG OUITY POST, RDT. DET DESCRIPTION DATE 1 Ne Staigment for Check My Work 3 more Check My Work uses remaining Emal instructor Joumal = Final Question d. Determine the balances of the factory overhead accounts for each factory as of March 31 and indicate whether the amounts representeret.no underapplied factory overhead. Enter your answer as a positive number. Factory 1 Factory 2 $