Mango Company applies overhead based on direct labor costs. For the current year, Mango Company estimated total overhead costs to be $700,000, and direct labor costs to be $350,000. Actual overhead costs for the year totaled $710,000, and actual direct labor costs totaled $391,000. At year-end, Factory Overhead account is:

Multiple Choice Overapplied by $72,000

Overapplied by $391,000.

Underapplied by $72,000.

Overapplied by $41,000.

Neither overapplied nor underapplied.