10

5

One advantage of using a standard costing system is that it Multiple Choice makes the record keeping process more complex and difficult. provides managers with information that is useful in making decisions to improve performance. reduces the amount of information available to a manager. never requires updating if standard costs have been carefully determined When the actual amount of a material used in production is greater than the standard amount allowed for the actual output, the journal entry would include: Multiple Choice O debit to Materials Inventory; credit to Materials Efficiency Variance. debit to Work-In-Process Inventory, credit to Materials Efficiency Variance. debit to Materials Inventory; debit to Materials Efficiency Variance. debit to Work-In-Process Inventory, debit to Materials Efficiency Variance