Chapter 15 Graded Exercises Seved Help Save & Submit Check my work 9 Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during the year direct materials costs, $820,000; direct labor costs, $4,700,000; and factory overhead costs applied, $2,820,000. 1. Determine the company's predetermined overhead rate for the year. 2. Assuming that the company's $88.000 ending Work in Process Inventory account for the year had $37,000 of direct labor costs, determine the inventory's direct materials costs. Book Print Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assuming that the company's $88,000 ending Work in Process Inventory account for the year had $37,000 of direct labor costs, determine the inventory's direct materials costs. Totoof winni (Me Grow Check my w 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. Overhead Rate Choose Numerator: Choose Denominator: Overhead Rate Total overhead costs Total direct labor costs Overhead rate 2.820,000 60% Required 2 > nces $ 4,700.000 5 Graded Exercises Saved Help Save & Exit Check Complete this question by entering your answers in the tabs below. Required 1 Required Assuming that the company's $88,000 ending Work in Process Inventory account for the year had $37,000 of direct labor costs, determine the inventory's direct materials costs. Total cost of work in process inventory hess Direct labor Less Factory overhead Direct materials