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What is the standard direct material price per pound

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Reference no: EM131720733

Question - Tommy's Toys produces two types of toys: trains and dolls. Tommy's uses stainless steel to manufacture the trains and plastic to manufacture the dolls. Information regarding the usage of steel and plastic for the past year follows:

Product Names

Steel

Plastic

Direct materials information

 

 

Standard pounds per unit

1 lb

0.5 lb

Standard Price (SP) per pound

$1.50

?

Actual Quantity (AQ) used per unit

1.5 lbs

0.75 lbs

Actual Price (AP) paid for material

$1.25

$2.00

Actual Quantity Purchased (AQP) and used

2,500 lbs

1,200 lbs

Price variance

?

$900 F

Quantity variance

$206 U

?

Flexible budget variance

?

$522 F

Number of units produced

275

550

What is the standard direct material price per pound for the plastic in the dolls?

$2.75/lb.

$4.18/lb.

$5.27/lb.

$2.44/lb.

Reference no: EM131720733

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