Under a standard costing system, the materials price variance is recorded
A)at the end of the accounting period.
B)when materials are purchased.
C)when materials are issued to production.
D)at the beginning of the accounting period.

Question

Quizplus · Accepted Answer

The materials price variance is recorded when materials are purchased, as this is when the actual price paid can be compared to the standard price.

Under a Standard Costing System, the Materials Price Variance Is