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 for the past year follows: Direct materials information Standard pounds per unit 1 lb. Standard Price per pound $1.50 Actual Quantity used per unit 1.5 lbs. Actual Price paid for material $1.25 Units Produced 275 units Budgeted Units to be Produced 250 units a) What is the price variance for steel used to manufacture the trains? b) What is the quantity variance for steel used to manufacture the trains? c) What is the direct materials flexible budget variance for steel used to manufacture the trains? d) What is the direct materials volume variance for steel used to manufacture the trains? e) Based on the variances you calculated in the parts above, what is the direct materials master budget variance for steel used to manufacture the trains?