How Should an Efficiency Variance That Is Material in Amount

question 14

Multiple Choice

How should an efficiency variance that is material in amount be treated at the end of an accounting period?

• A)Reported as a deferred charge or credit
• B)Allocated among work in process inventory,finished goods inventory,and cost of goods sold
• C)Charged or credited to cost of goods manufactured
• D)Allocated among cost of goods manufactured,finished goods inventory,and cost of goods sold

Understand the processes and approvals required for corporate mergers and acquisitions.

Grasp the concept of holding, parent, and subsidiary corporations through corporate transactions.

Identify the state's role in authorizing and documenting corporate mergers, consolidations, and share exchanges.

Understand the effects of mergers, consolidations, and share exchanges on corporate assets and liabilities.

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