Which One of the Following Journal Entries in a Standard

question 54

Multiple Choice

Which one of the following journal entries in a standard cost system is needed at the end of the period to close out to Cost of Goods Sold an unfavorable production-volume variance?

• A) A credit to Finished Goods Inventory, at standard cost.
• B) A credit to Cost of Goods sold, at standard cost.
• C) A credit to Cost of Goods sold, at actual cost.
• D) A debit to the Production Volume Variance account.
• E) A debit to Cost of Goods sold.

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