In a Fully Integrated Standard Costing System,standard Costs Eventually Flow

question 85

Multiple Choice

In a fully integrated standard costing system,standard costs eventually flow into the

• A)Cost of Goods Sold account.
• B)Standard Cost account.
• C)Selling and Administrative Expenses account.
• D)Sales account.

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Definitions:

Hourly Rate

A set amount that an employee is paid for each hour of work.

Estimate

A rough calculation or educated guess of a figure based on available information.

Amortization Table

A listing of the unpaid principal, the monthly payment, the amount allocated to paying down the principal, and the amount allocated to interest.

Spreadsheet

A digital document composed of rows and columns that helps in organizing, analyzing, and storing data, often used for financial calculations.