When using a standard costing system,which of the following should be recorded for labor as a product is being made?
A) Debit wages payable for the actual hours of labor at the standard rate and credit work in process for the actual hours worked at the standard rate.
B) Debit wages payable for the standard hours at the standard rate and credit work in process for the actual hours at the actual rate.
C) Credit wages payable for the standard hours at the standard rate and debit work In process for the standard hours at the actual rate.
D) Credit wages payable for the actual hours at the actual rate and debit work in process for the standard hours at the standard rate.
Correct Answer:
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