ontenegro 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. timated factory overhead costs, direct labor hours, and machine hours are as follows: 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 overiead to production in each factory for March. Fefer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit 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 31 and indicate whether the amounts represent overapplied factory overhead or Enter your answer as a positive number. a. Determine the factory overhead rate for Factory 1 . per machine hour Journal c. Journalize the Mar. 31 entry to apply factory overhead to production in Factory 1 for March. Refer to the chart of accounts for the exact wording of the account titles. CNOW joumais do not use lines for jourmal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. PAGE 10 Now journalize the second Mar. 31 entry to apply factory overhead to production in Factory 2 for March. Fefer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a joumal page is used for debit or credit entries. CNOW joumals will automatically indent a credit entry when a credit amount is entered. PHGE 10 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 Enter your answer as a positive number