The factory overhead account must be adjusted at the end of an accounting period. Explain why this

Question:

The factory overhead account must be adjusted at the end of an accounting period. Explain why this adjustment is needed and the consequences to the if the adjustment is not made.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...