A Large Favorable Variance from Standard Costs at the End

question 96

Multiple Choice

A large favorable variance from standard costs at the end of the year should be:

• A)Carried forward to the next fiscal year.
• B)Shown as other income in the income statement.
• C)Added to cost of goods sold in the income statement.
• D)Allocated between ending inventories and cost of goods sold.

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Definitions:

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Actions and habits that contribute to the maintenance or improvement of well-being and health.

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The general direction in which something is developing or changing.

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