Morris Company applies overhead based on direct labor costs. For the current year, Morris Company estimated total overhead costs to be $468,000, and direct labor costs to be $2,340,000. Actual overhead costs for the year totaled $431,000, and actual direct labor costs totaled $1,970,000. At year-end, the balance in the Factory Overhead account is a:

Acorporation a. can use different depreciation methods for tax and financial reporting purposes b. must use the straight - line depreciation method for tax purposes and double declining depreciation method financial reporting purposes c. must use different depreciation method for tax purposes, but strictly mandated depreciation methods for financial reporting purposes d. can use straight- line depreciation method for tax purposes and macrs depreciation method financial reporting purposes