Assume that actual overhead consisted of $20,000 for indirect labor, $20,000 for indirect material, and $15,000 for depreciation of factory equipment. Based on the preset rates, $50,000 of overhead was applied to work in process. Which of the following statements is true?

a)

there will be a $5,000 debit balance in Factory Overhead

b)

there will be a $10,000 credit balance in Factory Overhead

c)

there will be a $5,000 credit balance in Factory Overhead

d)

none of these