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Item 11

Item 11 2 points

	Storm Concert Promotions			Valle Home Builders
Actual indirect materials costs	$	11,800		$	6,500
Actual indirect labor costs		56,600			47,100
Other overhead costs		17,700			49,000
Overhead applied		92,400			97,300

Storm Concert Promotions Determine whether overhead is overapplied or underapplied. Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold. Valle Home Builders Determine whether overhead is overapplied or underapplied. Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold.