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| When items are transferred from stores to production, an accountant debits work-in-process and credits materials accounts. During production, a materials quantity variance may occur. The materials quantity variance is debited for an unfavorable variance and credited for a favorable variance. The intent of variance entries is to provide A. Accountability for materials lost during production. B. A means of safeguarding assets in the custody of the system. C. Compliance with GAAP. D. Information for use in controlling the cost of production. |