To Which Ledger Account Are the Standard Costs of Direct

question 43

Multiple Choice

To which ledger account are the standard costs of direct material, direct labour and manufacturing overhead charged?

• A) Not used at all.
• B) Used for variances only.
• C) Entered into work in process inventory.
• D) Entered into a standard control account.

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Definitions:

Office of Management and Budget

A federal office within the Executive Office of the President of the United States responsible for devising and submitting the president's budget proposal to Congress.

Cost-Benefit Analyses

The process of comparing the costs and benefits associated with a decision, project, or policy to determine its feasibility or desirability.

Independent Agencies

Bodies established by the government that operate independently from the executive branch to regulate or oversee specific activities.

Administrative Law Judge

An official who presides over federal administrative hearings, making decisions on disputes between government agencies and those affected by agency actions.