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J.J. Company uses a standard costing system in the manufacture of its single product. The 35,000 units of raw material purchased and used cost $105,000, and two units of raw material are required to produce one unit of final product. In November, the company produced 12,000 units of product. The flexible budget for materials was $60,000, and there was an unfavorable static budget variance of $35,000.
Question 1: J. Company's standard price for one unit of material is:
Option 1: $6.00
Option 2: $2.50
Option 3: $1.50
Option 4: $3.00
Option 5: $5.00
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