Instructions 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 $1,504,500 $914,400 Estimated direct labor hours for year 25,400 Estimated machine hours for year 50,150 Actual factory overhead costs for March Actual direct labor hours for March Actual machine hours for March $121,580 $107,200 2,930 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 factory. Refer to the chart of accounts for the exact wording of the account titles. 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. Journal c. Journalize the Mar. 31 entry to apply factory overhead to production in Factory 1. Refer to the Chart of Accounts for exact wording of account titles. Scroll down to record the entry for Factory 2. DATE DESCRIPTION 1 2 JOURNAL PAGE 10 POST. REF. DEBIT CREDIT Now journalize the second Mar. 31 entry to apply factory overhead to production in Factory 2. Refer to the Chart of Accounts for exact wording of account titles. DATE DESCRIPTION 1 2 JOURNAL PAGE 10 POST. REF. DEBIT CREDIT Final Question 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 $ Factory 2 $ underapplied overapplied