Pardee Ltd completed operations for the week and the accountant was preparing to make journal entries necessary to prepare a set of interim financial statements. Unfortunately, he discovered some of the data concerning direct materials had been lost. He was able to find the following: The actual direct materials price paid per unit was
A) $9.60
B) $9.40
C) $10.00
D) $10.60

Question

Pardee Ltd completed operations for the week and the accountant was preparing to make journal entries necessary to prepare a set of interim financial statements. Unfortunately, he discovered some of the data concerning direct materials had been lost. He was able to find the following:  The actual direct materials price paid per unit was
A) $9.60 
B) $9.40 
C) $10.00 
D) $10.60

Quizplus · Accepted Answer

There isn't enough information to determine the actual direct materials price paid per unit. The given code does not provide any relevant information. Therefore, the accountant will have to estimate the actual direct materials price paid per unit or try to obtain the missing data from other sources.

Pardee Ltd Completed Operations for the Week and the Accountant