Under standard cost procedures, any differences between actual costs and standard costs are:
A) Ignored until the end of the fiscal period, when they are shown in footnotes to the income statement.
B) Recorded in variance accounts.
C) Added to or subtracted from the standard cost amount immediately.
D) Treated as extraordinary production gains or losses.

Question

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The Answer of Under standard cost procedures, any differences between actual costs and standard costs are:
A) Ignored until the end of the fiscal period, when they are shown in footnotes to the income statement.
B) Recorded in variance accounts.
C) Added to or subtracted from the standard cost amount immediately.
D) Treated as extraordinary production gains or losses.

Under Standard Cost Procedures, Any Differences Between Actual Costs and Standard