Difference between Standard Costing and Actual Costing

Hi Gurus

I understand we cannot credit back the variances derived at month back to the materials if we are adopting Standard Costing.

However if we adopt Actual Costing then variances can be automatically charged back to the materials.

Recently a colleague mentioned that even through Standard Costing variances can be distributed back to the 'S ' materials through standard settings.

Is it possible ?

Also if this is possible then what is the purpose of going with Actual Costing in such case ?

Please advise.

Full points will be provided.

Thanks

DS