Factory Overhead Rates, Entries, and Account Balance Eclipse Solar Company operates two factories. 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: Factory 1 Factory 2 Estimated factory overhead cost for fiscal year beginning August 1 $18,500,000 $44,000,000 Estimated direct labor hours for year 800,000 Estimated machine hours for year 1,250,000 Actual factory overhead costs for August $1,515,800 $3,606,300 Actual direct labor hours for August 64,500 Actual machine hours for August 105,000 a. Determine the factory overhead rate for Factory 1. Round your answer to two decimal places. $fill in the blank 4d93edfa100e02b_1 14.80 per machine hour b. Determine the factory overhead rate for Factory 2. $fill in the blank 4d93edfa100e02b_2 55 per direct labor hour c. Journalize the entries to apply factory overhead to production in each factory for August. If an amount box does not require an entry, leave it blank. Factory 1 Work in Process fill in the blank 3f29a701f07907a_2 fill in the blank 3f29a701f07907a_3 Factory Overhead fill in the blank 3f29a701f07907a_5 fill in the blank 3f29a701f07907a_6 Factory 2 Work in Process fill in the blank 3f29a701f07907a_8 fill in the blank 3f29a701f07907a_9 Factory Overhead fill in the blank 3f29a701f07907a_11 fill in the blank 3f29a701f07907a_12 d. Determine the balances of the factory overhead accounts for each factory as of August 31, and indicate whether the amounts represent overapplied factory overhead or underapplied factory overhead. Factory 1 $fill in the blank 18f81702e04a041_1 Credit Overapplied Factory 2 Debit Underapplied