when standard costs are used in a cost accounting system: A-a favorable cost var

Question

when standard costs are used in a cost accounting system:

A-a favorable cost variance results when standard amounts are less than actual costs?

B-cost variance are showin the year end balance sheet as assets, if favorable, or as liabilities, if unfavorable

C-cost charged to the work in progress inventory, finished goods inventory, and cost of good sold accounts are actual costs

D-costs charged to the work in process inventory, finished goods inventory, and cot of goods sold accounts are at standard costs

Explanation / Answer

C-cost charged to the work in progress inventory, finished goods inventory, and cost of good sold accounts are actual costs

Related Questions

Navigate

• Browse (All)
• Browse W
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.