Mango Company applies overhead based on direct labor costs. For the current year, Mango Company estimated total overhead costs to be $500,000, and direct labor costs to be $250,000. Actual overhead costs for the year totaled $520,000, and actual direct labor costs totaled $280,000. At year-end, the balance in the Factory Overhead account is a:

Under/over applied overhead= $40,000 overallocated

Explanation:

Giving the following information:

Estimated overhead= $500,000

Estimated direct labor costs= $250,000

Actual overhead costs for the year totaled $520,000, and actual direct labor costs totaled $280,000.

First, we need to calculate the predetermined overhead rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 500,000/250,000

Predetermined manufacturing overhead rate= $2 per direct labor cost

Now, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 2*280,000= $560,000

Finally, we can determine the over/under allocation:

Under/over applied overhead= real overhead - allocated overhead

Under/over applied overhead= 520,000 - 560,000= $40,000 overallocated

answer: b) the us is the leading importer but not the leading exporter.

extra info:

the u.s is the largest importer but it is not the largest exporter as china sits on the top of the table when it comes to leading exporters.

but u.s is not far from first,

they rank in 2nd globally as the worlds largest exporter.

happy to

pls mark as brainliest

turnover

the amount of money taken by a business in a particular period.