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Record indirect materials used in production after reviewing

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Reference no: EM132650110

One of thejunior accountants from your auditing ?rm has reviewed your records and entries for inventory, direct costs, overhead accounts and cost of goods sold. They have found two entries that they believe have been incorrectly recorded and should be corrected. The entries they found and the description your company recorded were: Factory Overhead 10,000 Indirect Labor 10,000 To record indirect labor as factory overhead Selling Expenses 22,000 Indirect materials 22,000

Question1 : To record indirect materials used in production After reviewing this, what might be your response and how might you make the correction if a correction is needed? (no more than 5 sentences. Spelling and grammar errors will result in one point deducted for EACH error).

Reference no: EM132650110

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