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Tubs Inc. produces plastic tubs. Production of 120-gram tubs has a standard unit quantity of 125 grams of plastic per tub. During the month of
Tubs Inc. produces plastic tubs. Production of 120-gram tubs has a standard unit quantity of 125 grams of plastic per tub. During the month of May, 40,000 tubs were produced using 5,100,000 grams of plastic. The actual cost of plastic was $0.31 per gram and the standard price was $0.30 per gram. There are no beginning or ending inventories of plastic.
Calculate the total variance for plastic for May.
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