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:

Meta-analysis

A statistical technique that combines data from multiple studies to derive a comprehensive conclusion about a specific research question or topic.

Research Technique

A systematic method adopted in scientific studies to collect, analyze, and interpret data.

Male-female Differences

The physical, psychological, and social distinctions observed between males and females, beyond biological sex differences.

Biological Differences

Refers to the physiological and genetic variations observed between different species, individuals, or groups, such as sexes or races.