In a fully integrated standard costing system,standard costs eventually flow into the
A)Cost of Goods Sold account.
B)Standard Cost account.
C)Selling and Administrative Expenses account.
D)Sales account.

Question

Quizplus · Accepted Answer

In a fully integrated standard costing system, standard costs are used to value inventory and are later charged to Cost of Goods Sold when the inventory is sold. Therefore, standard costs eventually flow into the Cost of Goods Sold account.

In a Fully Integrated Standard Costing System,standard Costs Eventually Flow