Actual indirect materials costs Actual indirect labor costs Other overhead costs Overhead applied Storm Concert Promotions $12,100 56,500 16,100 92,000 Valle Home Builders $ 6,800 45,700 49,300 97,300 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. Factory OH Storm GJ Storm Factory OH Valle GJ Valle Determine whether overhead is overapplied or underapplied. Factory Overhead-Storm A Record the entry to close underapplied/overapplied overhead for Storm Concert Promotions. Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Record entry Clear entry View general journal Factory OH Storm GJ Storm Factory OH Valle GJ Valle Determine whether overhead is overapplied or underapplied. Factory Overhead-Valle Journal entry worksheet Record the entry to close underapplied/overapplied overhead for Valle Home Builders. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal