Morris Company applies overhead based on direct labor costs. For the current year, Morris Company estimated total overhead costs to be $472,000, and direct labor costs to be $2,360,000. Actual overhead costs for the year totaled $434,000, and actual direct labor costs totaled $1,980,000. At year-end, the balance in the Factory Overhead account is a: Multiple Choice $38,000 Credit balance $472,000 Credit balance. $396,000 Debit balance. $38,000 Debit balance. $434,000 Debit balance