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Question (Category: Business :Accounting )
Topper Toys has developed a new toy called the Brainbuster. The company has a standard cost system Topper Toys has developed a new toy called the Brainbuster. The company has a standard cost system to help control costs and has established the following standards for Brainbuster: Direct Materials 8 diodes per toy at $0.30 per diode Direct Labor 1.2 hours per toy at $7 per hour During August, the company produced 5,000 Brainbuster toys. Production data on the toy for August is as follows: Direct Materials: 70,000 diodes were purchased for use in production at a cost of $0.28 per diode. Some 20,000 of these diodes were still in inventory at the end of the month. Direct Labor: 6,400 direct labor hours were worked at a cost of $48,000. 7. The direct materials price variance for August is a. $1,000 favorable b. $1,000 unfavorable c. $2,000 favorable d. $2,000 unfavorable 8. The direct materials usage variance for August is a. $1,000 favorable b. $1,000 unfavorable c. $3,000 favorable d. $3,000 unfavorable 9. The direct labor rate variance for August is a. $6,000 favorable b. $6,000 unfavorable c. 3,200 favorable d. 3,200 unfavorable


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