3. Under-/overapplied Factory OH costs (1pt; 0.5pts each): Billy's Shirts is a specialty T-shirt manufacturer that uses a job order costing system. The firm reports the following (partial) T-account activity at the end of its first year of operations. Factory Overhead Debit $13,150 $49,825 $392,070 Credit $455,000 a. Compute the under- or overapplied overhead for the year. b. Prepare the journal entry to close the Factory Overhead T-account to Cost of Goods Sold. OVER => AutoPla Apple iPh Select to