Fill in the red boxes for the problem below: Computing and Journalizing Cost Variances for Bottom-Shelf Provisions. This company uses standard costs in its process costing system. At the end of the current month, what should be done to address cost variances?
A) Analyze the variances and make necessary adjustments.
B) Ignore the variances and continue with standard costing.
C) Report the variances to management for further action.
D) Update the standard costs to reflect the actual costs.