Which of the following entries is used to record the standard costs of direct materials assigned to units worked on and total direct materials variances?
A) Work in Process (at standard costs) Direct Materials Variances
Direct Materials Control
B) Work in Process (at actual costs) Direct Materials Variances
Direct Materials Control
C) Direct Materials Variances Direct Materials Control
Work in Process (at standard costs)
D) Direct Materials Variances Direct Materials Control
Work in Process (at actual costs)

Question

Quizplus · Accepted Answer

The correct entry to record the standard costs of direct materials assigned to units worked on and the total direct materials variances is: Work in Process (at standard costs) is debited for the standard cost of the materials, Direct Materials Variances account is debited or credited with the variance amount (difference between standard and actual costs), and Direct Materials Control is credited for the actual cost of the materials used. This entry reflects the application of standard costing in accounting for direct materials.

Which of the Following Entries Is Used to Record the Standard