Which of the following are true regarding standard costs and…

Which of the following are true regarding standard costs and analyzing variances: I. Raw materials price increases cause an unfavorable materials price variance II. Ideal Standards represent efficient levels of performance that are attainable under expected operating conditions III. Inexperienced workers cause an unfavorable materials quantity variance IV. Paying workers lower wages cause a favorable labor price variance

The standard cost of Buzz’s Toys includes 4 units of direct…

The standard cost of Buzz’s Toys includes 4 units of direct materials at $5.00 per unit. During May, Buzz’s Toys buys 45,000 units of direct material at $5.50 per unit and produces 12,000 toys.  What is Buzz’s Toys materials quantity variance? (Enter a favorable variance as positive and an unfavorable variance as negative)