Actual indirect materials costs Actual indirect labor costs Other overhead costs Overhead applied Storm Concert Promotions $12,500 55,700 17,800 93,500 Valle Home Builders . $ 7,000 45,700 48,400 96,900 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. Complete this question by entering your answers in the tabs below. Valle Factory OH G) Storm Factory OH Storm GJ Valle Determine whether overhead is overapplied or underapplied. Indirect materials Indirect labor Tother overhead costs Factory Overhead-Storm 12,500 55,700 17.800F