The Duggart Company had the following transactions and events during its first year of operations. Estimated overhead for the year was $770,000; estimated direct labor cost for the year was $350,000. 1. Purchased materials on account, $567,00O. 2. Requisitioned materials for production as follows: direct materials - 85 percent of purchases, indirect materials - 12 percent of purchases. 3. Direct labor for production is $331,000, indirect labor is $125,000. 4. Overhead incurred (not including materials or labor): $529,000. 5. Overhead is applied to production based on direct labor cost at the rate of 6. Goods costing $976,000 were completed during the period. 7. Goods costing $513,200 were sold on account for $776,000. Required: Determine the following: (a) Overhead rate (b) Ending balance for Materials Inventory (c) Ending balance for Work-in-Process Inventory (d) Ending balance for Finished Goods Inventory