In most companies using standard cost procedures,the costs charged to Work in Process,Finished Goods,and Cost of Goods Sold are the actual costs,not the standard costs.

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In standard cost procedures, the costs charged to Work in Process, Finished Goods, and Cost of Goods Sold are based on the predetermined standard costs, not the actual costs. The difference between actual and standard costs is captured in variance analysis.

In Most Companies Using Standard Cost Procedures,the Costs Charged to Work