(Solved): Factory Overhead Rates and Account Balances Prostheses Industries operates two tactories. I he manu ...

Factory Overhead Rates and Account Balances Prostheses Industries operates two tactories. I he manutacturing operations of tactory 1 are machine intensive, while the manufacturing operations of Factory 2 are labor intensive. 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. Estimated 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. Determine the factory overhead applied to production in each factory for August. d. Determine the balances of the factory overhead accounts for each factory as of August 31 . Using formulas and cell references from the problem data, perform the required analysis. Enter the overapplied balances, If any, as negative values. Formulas entered in the green cells show in the orang. cells. Transfer the absolute amounts to CNOWv2 for grading. d. Balance of the factory overhead accounts: Factory 1 Factory 2