When using a standard costing system,when materials are purchased,the transaction is recorded in the inventory account at the standard price and accounts payable is charged for the full amount owed to the supplier.

Name: When using a standard costing system,when materials are purchased,the transaction is recorded in the inventory account at the standard price and accounts payable is charged for the full amount owed to the supplier.
Brand: Quizplus
Rating: 4.8 (54 reviews)

Question

Quizplus · Accepted Answer

The Answer is True

When Using a Standard Costing System,when Materials Are Purchased,the Transaction