A. 20,000B. 21,625C. 23,250D. 24,875E. Answer not given A quantity of a particular raw material was purchased for P43,250. The standard cost of thematerial was P2.00 per kilogram and there was an unfavorable materials price variance ofP3,250. How many kilograms were purchased?

Step 1 The materials price variance is the difference between the actual and standard cost to…

Answered: 20,000 B. 21,625 C. 23,250 D. 24,875 E.…

Business

Accounting

20,000 B. 21,625 C. 23,250 D. 24,875 E. Answer not given

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Present Value

Present value (PV) is defined as the current or present value of all future sums of cash flow or money at a specified rate of return. This rate of return is known as the discounted rate, which is essentially the interest rate, discounted over some time. The expected cash flows are discounted at a discount rate to compute the present value. The higher the discount rate, the higher the future value (FV), but the lower the present value.

Question

A. 20,000
B. 21,625
C. 23,250
D. 24,875
E. Answer not given

A quantity of a particular raw material was purchased for P43,250. The standard cost of the
material was P2.00 per kilogram and there was an unfavorable materials price variance of
P3,250. How many kilograms were purchased?

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