Under a Standard Costing System

question 37

Multiple Choice

Under a standard costing system:

• A) Standard costs are entered into the work in process and finished goods inventory account.
• B) Actual costs are entered into work in process inventory account while standard costs are entered into the finished goods account.
• C) The raw material inventory account is based on standard quantities and standard cost.
• D) Actual costs are entered into raw material and work in process inventory account.

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