Cooper Company had overapplied factory overhead of $2,000 last year. Assuming the amount was considered small enough not to materially distort net income, the entries needed to close factory overhead are: 
Definitions:
Summarized Business Information
Concise and relevant data and insights about a business's performance, market position, or operational metrics.
Problem Factoring
Dividing a problem into a series of logical, connected questions.
Solution Development
The process of identifying, designing, and implementing answers to specific problems or needs.
Systematic Inquiry
A structured method of investigating or examining a topic or problem.
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