Actual indirect materials costs Actual indirect labor costs Other overhead costs Overhead applied Concert Promotions Storm Valle Home Builders $11,700 $ 6,200 55,800 47,000 17,500 48,900 92,600 97,000 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. 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 Determine whether overhead is overapplied or underapplied. Factory Overhead-Valle Journal entry worksheet A Record the entry to close underapplied/overapplied overhead for Valle Home Builders. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal