Small enough not to materially distort net income

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Reference no: EM13775185

Cooper Company had over applied factory overhead of $2000 last year. Assuming the amount was considered small enough not to materially distort net income, the entries needed to close factory overhead are:

a) Factory Overhead 2000

Applied Factory Overhead 2000

Cost of Goods Sold 2000

b) Factory Overhead 2000

Applied Factory Overhead 2000

Cost of Goods Sold 2000

c) Factory Overhead 2000

Under and Over applied 2000

Factory Overhead

Cost of Goods Sols 2000

Under and Overhead 2000

Factory overhead

d) Factory Overhead 2000

Under and Overhead 2000

Factory Overhead

Under and Overhead Factory 2000

Cost of Goods sold 2000

Reference no: EM13775185

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