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Timeless Treasures produces two types of toys: trains and dolls. The company uses stainless steel to manufacture the trains and plastic to manufacture the dolls.
Timeless Treasures produces two types of toys: trains and dolls. The company 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 Direct materials information Standard pounds per unit Standard Price (SP) per pound Actual Quantity (AQ) used per unit Actual Price (AP) paid for material Actual Quantity Purchased (AQP) and used Price variance Quantity variance Flexible budget variance Number of units produced What is the price variance for steel used to manufacture the trains? A. $500 unfavorable B. $500 favorable C. $125 favorable D. $125 unfavorable
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