Roberts Manufacturing had a remaining debit balance of $20,000 of in its under and over-applied factory overhead account at year-end. It also had year end balances in the following accounts: Work in Process. Finished Goods... Cost of Goods Sold.. Total....... $20,000 30,000 50,000 $100,000 1. Prepare the closing entry for the $20,000 of under-applied overhead, assuming that the balance is not considered to be material. 2. Prepare the closing entry for the $20,000 of under-applied overhead, assuming that the balance is considered to be material.