A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $346,000 and direct labor hours would be 49,900. Actual manufacturing overhead costs incurred were $311,200, and actual direct labor hours were 52,100. The journal entry to apply the factory overhead costs for the year would include a a. credit to Factory Overhead for $346,000 b. credit to Factory Overhead for $361,053 c. debit to Factory Overhead for $361,053 d. debit to Factory Overhead for $311,200