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Torello Corporation had the following inventories at the beginning and end of the month of January: (Click the icon to view the inventories.) The following additional manufacturing data was available for the month of January (Click the icon to view the additional data.) Torello Corporation applies factory overhead at a rate of 40% of direct labor cost, and any overallocated or underallocated factory overhead is deferred until the end of the year. Torello's balance in its factory overhead control account at the end of January was: 1. $13,000 underallocated. 2. $24,000 underallocated. Data Table Data Table 3. $13,000 overallocated. 4. $24,000 overallocated. $ $ Finished goods Work-in-process Direct materials January 1 123,000 $ 236,000 139,000 January 31 120,000 249,000 128.000 Direct materials purchased Transportation in Direct labor Actual factory overhead 185,000 2,600 550,000 244,000 Print Done Print Done