When using a standard costing system,at the end of an accounting period,the balances in which of the following accounts will be at standard amounts?

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When using a standard costing system, the balances in Raw materials, Work in process, Finished goods, and Cost of goods sold will all be at standard amounts at the end of an accounting period. This is because standard costing involves setting predetermined costs for materials, labor, and overhead, and then comparing those standards to actual costs incurred during the period. Any differences between standard and actual costs are recorded in variance accounts. Therefore, the ending balances in the inventory and COGS accounts will reflect the standard costs.

When Using a Standard Costing System,at the End of an Accounting