Which of the following is an acceptable method of disposing of variances?
A)closing them to cost of goods sold only
B)closing them to raw materials,work in process,and finished goods
C)closing them to raw materials,finished goods,and cost of goods sold
D)closing them to raw materials

Question

Quizplus · Accepted Answer

Closing variances to cost of goods sold is a common method as it directly adjusts the cost of goods sold to reflect actual costs, simplifying the accounting process.

Which of the Following Is an Acceptable Method of Disposing