Exercise 15-25 (Algo) Closing over- or underapplied overhead LO P4 Star Valle Promotions Builders Indirect materials $ 12, 700 $ 7,300 Indirect labor 56, 500 46, 800 Other overhead 17, 000 48, 500 Overhead applied 94, 100 96, 700 Star Promotions 1-a. 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-StarExercise 15-25 (Algo) Closing over- or underapplied overhead LO P4 Star Valle Promotions Builders Indirect materials $ 12, 700 $ 7,300 Indirect labor 56, 500 46, 800 Other overhead 17, 000 48 , 500 Overhead applied 94 , 100 96 , 700 Star Promotions 1-a. 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 Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold. View transaction list Journal entry worksheet Record the entry to close underapplied/overapplied overhead for Star Promotions.Exercise 15-25 (Algo) Closing over- or underapplied overhead LO P4 Star Valle Promotions Builders Indirect materials $ 12, 700 $ 7,300 Indirect labor 56, 500 46, 800 Other overhead 17, 000 48, 500 Overhead applied 94, 100 96, 700 Star Promotions 1-a. 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-ValleExercise 15-25 (Algo) Closing over- or underapplied overhead LO P4 Star Valle Promotions Builders Indirect materials $ 12, 700 $ 7,300 Indirect labor 56, 500 46, 800 Other overhead 17, 000 48,500 Overhead applied 94 , 100 96, 700 Star Promotions 1-a. 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 Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold. View transaction list Journal entry worksheet A Record the entry to close underapplied/overapplied overhead for Valle Builders