Sundance Solar Company operates two factories. The company applies factory overhead to jobs on the basis f 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: Estimated factory overhead cost for fiscal year beginning March 1 Estimated direct labor hours for year Estimated machine hours for year Actual factory overhead costs for March, Actual direct labor hours for March Actual machine hours for March Factory 1 $1,478,250 54,750 $111,040 4.170 Factory 2 $1,023,050 27,650 $103,620 2,750 Required: a Determine the factory overhead rate for Factory 1 b. Determine the factory overhead rate for Factory 2 c. Joumalize 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 a. Determine the factory overhead rate for Factory 1. $ per machine hour b. Determine the factory overhead rate for Factory 2 $ Journal c. Joumalize 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 2 per direct labor hour DATE DESCRIPTION JOURNAL POST. REF. DEBIT PAGE 10 CREDIT Sundance Solar Company operates two factories. The company applies factory overhead to jobs on the basis f 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: Estimated factory overhead cost for fiscal year beginning March 1 Estimated direct labor hours for year Estimated machine hours for year Actual factory overhead costs for March, Actual direct labor hours for March Actual machine hours for March Factory 1 $1,478,250 54,750 $111,040 4.170 Factory 2 $1,023,050 27,650 $103,620 2,750 Required: a Determine the factory overhead rate for Factory 1 b. Determine the factory overhead rate for Factory 2 c. Joumalize 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 a. Determine the factory overhead rate for Factory 1. $ per machine hour b. Determine the factory overhead rate for Factory 2 $ Journal c. Joumalize 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 2 per direct labor hour DATE DESCRIPTION JOURNAL POST. REF. DEBIT PAGE 10 CREDIT