1 - Storm Concert Promotions: Determine whether overhead is overapplied or underapplied.
2 - Storm Concert Promotions: Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold.
3 - Valle Home Builders: Determine whether overhead is overapplied or underapplied.
4 - Valle Home Builders: Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold.
Storm Concert Promotions Valle Home Builders
Actual indirect materials costs $12,800 $6,800
Actual indirect labor costs $55,500 $47,000
Other overhead costs $17,100 $49,000
Overhead applied $91,600 $98,400
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