Star Promotions 1-a. Determine whether overhead is overapplied or underapplied. 1-b. Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold. Valle Builders 2-a. Determine whether overhead is overapplied or underapplied. 2-b. 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 the entry to close underapplied/overapplied overhead for Valle Builders. Note: Enter debits before credits