Question 1 (2.5 points) Kings Company had the following information: Budgeted factory overhead Actual factory overhead Budgeted direct labor hours Actual direct labor hours $70,000 $80,000 17,500 21,000 Assume the cost driver for factory overhead costs is direct labor hours and a job uses 2,000 direct labor hours. What amount of factory overhead is applied to the job? A) $8,000 B) $7,500 $7,140 D) $7,600