Camping out Co. manufactures down sleeping bags: * Each sleeping bag requires 4 pounds of down and takes 0.3 hours of direct labor. * The standard cost of the down used by camping out is $8 per pound and the standard labor cost is $10 per hour. * In November, Camping out purchased and used 15,000 pounds of down for $120,750. * During the month, the company manufactured 4,000 sleeping bags. * Payroll reported a total of 1,480 direct labor hours at a cost of $14,060. Instructions: Show and label all calculations. a) Compute the total material variance, the material price variance, and the materials quantity

Camping out Co. manufactures down sleeping bags: * Each sleeping bag requires 4 pounds of down and takes 0.3 hours of direct labor. * The standard cost of the down used by camping out is $8 per pound and the standard labor cost is $10 per hour. * In November, Camping out purchased and used 15,000 pounds of down for $120,750. * During the month, the company manufactured 4,000 sleeping bags. * Payroll reported a total of 1,480 direct labor hours at a cost of $14,060. Instructions: Show and label all calculations. a) Compute the total material variance, the material price variance, and the materials quantity

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 2PB: Five Card Draw manufactures and sells 10,000 units of Aces, which retails for $200, and 8,000 units...

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