Exercise 15-25 (Algo) Closing over- or underapplied overhead LO P4 Indirect materials Indirect labor Other overhead Overhead applied Star Promotions Valle Builders $ 12,700 $ 7,400 55,700 46,000 16,500 49,800 93,000 98,500 Star Promotions 1-8. 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. Req 1A Req 1B Req 2A Req 2B Determine whether overhead is overapplied or underapplied. Factory Overhead-Star Indirect materials 12,700 Indirect labor 55,700 Other overhead 16,500 93,000 Applied overhead. 8,100 Overapplied overhead