Actual indirect materials costs Actual indirect labor costs Other overhead costs Overhead applied Storm Concert Promotions $12,600 56,400 17,800 94,000 Valle Home Builders $ 6,300 47,000 49,200 97,800 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