Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during the year direct materials costs $850.000, direct labor costs $5,000,000, and factory overhead costs applied, $4,000,000 1. Determine the company's predetermined overhead rate for the year 2. Assuming that the company's $91000 ending Work in Process Inventory account for the year had $40,000 of direct labor costs. determine the inventory's direct materials costs. Complete this question by entering your answers in the tabs below. Requrd 1 Required 2 Assuming that the company's 591,000 ending Work in Process Inventory account for the year had $40,000 af direct labar costs, determine the inventory's direct materials casts. o ry TS 91.00 Total cost of work in process less Direct labor less Factory o thed Direct malena Required 1