Actual indirect materials costs Actual indirect labor costs Other overhead costs Overhead applied Storm Concert Promotions $11,500 56,900 17,200 93,000 Valle Home Builders $ 7,400 46,900 48,400 98,600 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. Factory OH Storm GJ Storm Factory OH Valle GJ Valle Determine whether overhead is overapplied or underapplied. Factory Overhead-Storm Factory OH Storm GJ Storm Factory OH Valle GJ Valle Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold. View transaction list Journal entry worksheet Record the entry to close underapplied/overapplied overhead for Storm Concert Promotions. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal Factory OH Storm GJ Storm Factory OH Valle G] Valle Determine whether overhead is overapplied or underapplied. Factory Overhead-Valle Factory OH Storm GJ Storm Factory OH Valle GJ Valle Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold. View transaction list Journal entry worksheet A > Record the entry to close underapplied/overapplied overhead for Valle Home Builders. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal