When Using a Standard Costing System,which of the Following Should

question 2

Multiple Choice

When using a standard costing system,which of the following should be recorded when recording the purchase of direct materials?

• A)Debit raw materials inventory at the standard price and credit accounts payable at the standard price
• B)Debit raw materials inventory at the standard price and credit accounts payable at the actual price with a debit or credit to direct materials price variance
• C)Credit raw materials inventory at the standard price and debit accounts payable at the actual price with a debit or credit to direct materials price variance
• D)Credit raw materials inventory at the standard price and debit accounts payable at the standard price

---

Definitions:

State

In computing, it refers to the condition or situation of a system, application, or component at a specific point in time, often determining its subsequent behavior.

Validation Rule Expression

In databases and applications, a formula or criteria set to ensure that data entered into a field meets specific requirements or parameters for correctness or appropriateness.

Date/Time Field

A date/time field is a form or database element that accepts or displays dates and times, often allowing for user input or the extraction of timestamp data.

HireDate

A term often used in databases or HR applications to denote the date an employee started working at a company.