Tasty Bakery applies overhead based on direct labor costs. The company reports the following costs for the year: direct materials, $650,000; direct labor, $3,000,000; and overhead applied, $1,800,000. 1. Determine the company's predetermined overhead rate for the year. 2. The ending balance of its Work in Process Inventory account was $71,000, which included $20,000 of direct labor costs. Determine the direct materials costs in ending Work in Process Inventory. Answer is complete but not entirely correct. 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 $71,000, which included $20,000 of direct labor costs. Determine the direct materials costs in ending Work in Process Inventory. Ending balance of work in process inventory Less: Direct labor in work in process inventory Less: Factory overhead in WIP inventory Direct materials cost in work in process inventory $71,000 20,000 20,300 $ 32,000X < Required 1 Required 2D