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Pippin Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours.
The company has reported the following actual results for the product for June:
-The raw materials quantity variance for the month is closest to:
Present Value
The current worth of a future sum of money or stream of cash flows, given a specific rate of return.
Interest Rate
The percentage rate at which interest is charged on a loan to the borrower, often expressed as an annual figure relative to the outstanding loan sum.
Present Value
The modern-day worth of a forthcoming sum of money or flow of cash payments, using a set rate of return for calculation.
Received
The action of being given or awarded something.
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