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bernie2981 bernie2981
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8 years ago
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?
A) $2.44/lb.
B) $2.75/lb.
C) $5.27/lb.
D) $4.18/lb.
Textbook 
Managerial Accounting

Managerial Accounting


Edition: 4th
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nucleinuclei
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8 years ago
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bernie2981 Author
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#2
8 years ago
You're such a dedicated member, I very much appreciate the help.

Marking this solved ✓
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#3
4 years ago
Thanks dude
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#4
4 years ago
thank you !
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