Actual Indirect saterials costs Actual Indirect Labor costs Other Overhead costs Overhead applied Stor Concert Promotions 5 12,500 55,700 17.300 93,500 Valle Home Builders $7,000 45,700 48,400 96, 900 Storm Concert Promotions Determine whether overhead is overapplied or uncierapplied 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