Question: In a standard cost bookkeeping system, when the actual material price exceeds the standard price, the double entry to record the difference in price is:

In a standard cost bookkeeping system, when the actual material price exceeds the standard price, the double entry to record the difference in price is: A. Debit the material price variance account and credit the raw material control account B. Credit the material price variance account and debit the raw material control account C. Debit the material price variance account and credit the work-in-progress account D. Credit the material price variance account and debit the work-in-progress account

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