Determine whether there is over or underapplied overhead. Prepare the joumal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Determine whether there is over or underapplied overhead. Exercise 15-13 Adjusting factory overhead LO P4 The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. Determine whether there is over or underapplied overhead 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. Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold. Journal entry worksheet Record entry to allocate (close) underapplied/overapplied overhead to cost of goods sold. Note: Enter debits before credits