Tasty Bakery applies overhead based on direct labor costs. The company reports the following costs for the year: direct materials, $770,000; direct labor, $4,200,000: and overhead applied, $2,940,000. 1. Determine the company's predetermined overhead rate for the year. 2. The ending balance of its Work in Process Inventory account was $83,000, which included $32,000 of direct labor costs. Determine the direct materials costs in ending Work in Process Inventory. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the company's predetermined overhead rate for the year. Numerator: Overhead Rate Denominator: Overhead Rate Overhead rate Required Required 2 > 15 es 1. Determine the company's predetermined overhead rate for the year. 2. The ending balance of its Work in Process Inventory account was $83,000, which included $3 the direct materials costs in ending Work in Process Inventory. Complete this question by entering your answers in the tabs below. Required 1 Required 2 The ending balance of its Work in Process Inventory account was $83,000, which included $32,000 Determine the direct materials costs in ending Work in Process Inventory. Ending balance of work in process inventory Direct materials cost in work in process inventory < Required 1 Required 2