When Recording Variances in a Standard Cost System

question 71

Multiple Choice

When recording variances in a standard cost system:

• A) Only unfavorable material variances are debited.
• B) Only unfavorable material variances are credited.
• C) Both unfavorable material and labor variances are credited.
• D) All unfavorable variances are debited.
• E) All unfavorable variances are credited.

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Definitions:

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A variable (often denoted as Y) that represents the outcome or the effect in a study or experiment, influenced by the explanatory variables.

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A medication used to treat certain cancers and diseases of the blood, working by slowing or stopping the growth of cancer cells.

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A genetic blood disorder characterized by red blood cells that assume an abnormal, rigid, sickle shape.