Mango Company applies overhead based on direct labor costs. For the current year, Mango Company estimated total overhead costs to be $660,000, and direct labor costs to be $330,000. Actual overhead costs for the year totaled $672,000, and actual direct labor costs totaled $369,000. At year-end, Factory Overhead account is:

Multiple Choice

• Overapplied by $66,000.

• Underapplied by $66,000.

• Overapplied by $39,000.

• Neither overapplied nor underapplied.

• Overapplied by $369,000.