Business, 03.07.2020 18:01 Giovanni0312

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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