Exercise 19-17 Overhead rate calculation, allocation, and analysis LO P3 Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during 2017: direct materials costs, $650,000; direct labor costs, $3,000,000; and factory overhead costs applied, $1,800,000. 1. Determine the company's predetermined overhead rate for 2017. 2. Assuming that the company's $71,000 ending Work in Process Inventory account for 2017 had $20,000 of direct labor costs, determine the inventory's direct materials costs 3. Assuming that the company's $490,000 ending Finished Goods Inventory account for 2017 had $250,000 of direct materials costs, determine the inventory's direct labor costs and its overhead costs. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Determine the company's predetermined overhead rate for 2017. Overhead Rate Choose Numerator: Choose Denominator: Overhead Rate Overhead rate Required 1 Required 2 Required 3 Assuming that the company's $71,000 ending Work in Process Inventory account for 2017 had $20,000 of direct labor costs, determine the inventory's direct materials costs Total cost of work in process inventory Direct materials Required 2 Required 3 Required 1 Assuming that the company's $490,000 ending Finished Goods Inventory account for 2017 had $250,000 of direct materials costs, determine the inventory's direct labor costs and its overhead costs. Direct labor Factory overhead costs