For companies using standard costing accounting procedures, when recording the use of direct materials in the production process, Work in process inventory is debited for which of the following?

Question

Quizplus · Accepted Answer

When using standard costing accounting procedures, the Work in process inventory account is debited for the standard quantity of materials that should be used in the actual production process, multiplied by the standard cost per unit. This is because standard costing assumes that materials are used at a predetermined rate and price, regardless of the actual cost or quantity used during production. Therefore, the answer is A: standard quantity for actual production times standard cost per unit.

For Companies Using Standard Costing Accounting Procedures, When Recording the Use