Montenegro Metal 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 $1,084,950 $931,600 Estimated direct labor hours for year 13,700 Estimated machine hours for year 24,110 Actual factory overhead costs for March $86,710 $80,290 Actual direct labor hours for March 1,230 Actual machine hours for March 1,880 Question Content Area a. Determine the factory overhead rate for Factory 1. $fill in the blank 57f0fd01bf99033_1 per machine hour b. Determine the factory overhead rate for Factory 2. $fill in the blank 57f0fd01bf99033_2 per direct labor hour Feedback Area Feedback a-b. Factory 1 overhead is applied based on machine hours. Factory 2 overhead is applied based on direct labor hours. Question Content Area c. Journalize the entries to apply factory overhead to production in each factory for March. If an amount box does not require an entry, leave it blank. Factory 1 Work in Process Work in Process Work in Process Factory Overhead Factory Overhead Factory Overhead Factory 2 Work in Process Work in Process Work in Process Factory Overhead Factory Overhead Factory Overhead Feedback Area Feedback c. Increase the work in process and reduce the factory overhead. Question Content Area 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 $fill in the blank ca0bae03900b054_1 Debit Underapplied Factory 2 $fill in the blank ca0bae03900b054_4 Credit Overapplied