Ainley Corporation had the following inventories at the beginning and end of January: E (Click the icon to view the inventories.) The following additional manufacturing data was available for the month of January (Click the icon to view the additional data.) Ainley Corporation applies factory (manufacturing) overhead at a rate of 45% of direct manufacturing labor cost, and any overallocated or underallocated factory overhead is deferred until the end of the year. Ainley's balance in its factory overhead control account at the end of January was 1. $26,000 underallocated. 2. $13,000 overallocated. 3. $26,000 overallocated. 4. $13,000 underallocated 1 Data table January 1 Finished goods $ 123,000 $ January 31 118,000 248,000 125,000 Work in process 231,000 Direct materials 138,000 Print Done - X Data table $ 188,000 3,100 Direct materials purchased Transportation in Direct manufacturing labor Actual factory (manufacturing) overhead 600,000 296,000 Print Done