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: Steel Plastic 1 lb. Product Names Direct materials information Standard pounds per unit Standard Price (SP) per pound Actual Quantity (AQ) used per unit Actual Prion (AP) paid for material Actual Quantity Purchased (AQP) and used Price variance Quantity variance Flexible budget variance 3 lb. $1.75 2 lbs $1.25 2,400 lbs 3 lbs $225 700 lbs $1,050 F $700 U $75 F O A $400 favorable OB. 51.200 favorable O c. 5400 unfavorable OD. $1,200 unfavorable Steel Plastic 1 lb. 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 3 lb. $1.75 2 lbs. $1.25 2,400 lbs. 3 lbs. $2.25 700 lbs. $1,050 F $700 U $75 F 650 400 What is the price variance for steel used to manufacture the trains? O A. $400 favorable O B. $1,200 favorable O c. $400 unfavorable OD. $1,200 unfavorable