3.A computer manufacturer recently shipped several laptops to a customer (cost: $25,000) and billed the customer $30,000. Prepare the Journal Entry/(entries) to record this transaction: Name ACC 202- Midterm Spring 2020 ID Page 4 of 8 4. LL Co charges manufacturing overhead to products by using a predetermined application rate, computed on the basis of labor hours. The following data pertain to the current year: Budgeted manufacturing overhead: $1,080,000 Actual manufacturing overhead: $945,000 Budgeted labor hours: 45,000 Actual labor hours: 31,500 Is manufacturing overhead overapplied or underapplied at year-end?