Which of the Following Is Characteristic of the Disposition of Materials

question 81

Multiple Choice

Which of the following is characteristic of the disposition of materials and labour variances?

• A)The variances for materials and labour are closed directly to cost of goods sold regardless of materiality.
• B)If the materials price variance is material, it is prorated among materials inventory, materials usage variance, work in process, and finished goods.
• C)The materials usage variance and the labour variances, if material, are prorated among work in process, finished goods, and cost of goods sold.
• D)The materials usage variance and the labour variances are prorated among work in process, finished goods, and cost of goods sold.

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Definitions:

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