Storm Concert Promotions			Valle Home Builders
Actual indirect materials costs	$	11,300		$	6,300
Actual indirect labor costs		55,300			46,800
Other overhead costs		16,900			49,000
Overhead applied		91,300			96,200

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.