*Actual hours are equal to standard hours for units produced.
-At the end of the fiscal year, variances from standard costs are usually transferred to the _____ account.
A)direct labor
B)factory overhead
C)cost of goods sold
D)direct materials

Question

​  
*Actual hours are equal to standard hours for units produced.​
-At the end of the fiscal year, variances from standard costs are usually transferred to the _____ account.
A)direct labor 
B)factory overhead 
C)cost of goods sold 
D)direct materials

Quizplus · Accepted Answer

At the end of the fiscal year, variances from standard costs are typically transferred to the Cost of Goods Sold (COGS) account. This practice allows the company to adjust the actual cost of goods sold to reflect any differences between the standard (or expected) costs and the actual costs incurred during the period.

​ *Actual Hours Are Equal to Standard Hours for Units Produced.​

*Actual Hours Are Equal to Standard Hours for Units Produced.