TB MC Qu. 19-131 Morris Company applies overhead based on direct labor... Morris Company applies overhead based on direct labor costs. For the current year, Morris Company estimated total overhead costs to be $416,000, and direct labor costs to be $2,080,000. Actual overhead costs for the year totaled $392,000, and actual direct labor costs totaled $1,840,000. At year-end, Factory Overhead is: Multiple Choice Underapplied by $24,000. Overlapplied by $24,000. Overapplied by $48,000. Neither overapplied nor underapplied. Overapplied by $196,000