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Windsor Corp. supplies its customers with high-quality canvas tents. These canvas tents sell for $170 each, with the following DM and DL usage and price expectations. Direct materials Direct labor 11 square yards per unit 1.3 DL hours per unit @ $4/square yard @$18/DL hour Throughout the year, Windsor used 33,630 square yards of fabric in the process of making 2,950 tents. The company had originally planned to produce and sell 2,700 tents. In keeping with its desire to hold some DM Inventory at year-end, it purchased 35,680 square yards of canvas at $4.15 per square yard. Windsor's DL cost totaled $71,744 for the 3,776 hours that were actually used.

Windsor Corp. supplies its customers with high-quality canvas tents. These canvas tents sell for $170 each, with the following DM and DL usage and price expectations. Direct materials Direct labor 11 square yards per unit 1.3 DL hours per unit @ $4/square yard @$18/DL hour Throughout the year, Windsor used 33,630 square yards of fabric in the process of making 2,950 tents. The company had originally planned to produce and sell 2,700 tents. In keeping with its desire to hold some DM Inventory at year-end, it purchased 35,680 square yards of canvas at $4.15 per square yard. Windsor's DL cost totaled $71,744 for the 3,776 hours that were actually used.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Windsor Corp. supplies its customers with high-quality canvas tents. These canvas tents sell for $170 each, with the following DM and DL usage and price expectations. Direct materials Direct labor (a) 11 square yards per unit 1.3 DL hours per unit Throughout the year, Windsor used 33,630 square yards of fabric in the process of making 2,950 tents. The company had originally planned to produce and sell 2,700 tents. In keeping with its desire to hold some DM Inventory at year-end, it purchased 35,680 square yards of canvas at $4.15 per square yard. Windsor's DL cost totaled $71,744 for the 3,776 hours that were actually used. Price variance Determine Windsor's DM and DL price and efficiency variances; specify the amount and sign for all. Efficiency variance @ $4/square yard @$18/DL hour $ $ DM $ $ DL
Transcribed Image Text:Windsor Corp. supplies its customers with high-quality canvas tents. These canvas tents sell for $170 each, with the following DM and DL usage and price expectations. Direct materials Direct labor (a) 11 square yards per unit 1.3 DL hours per unit Throughout the year, Windsor used 33,630 square yards of fabric in the process of making 2,950 tents. The company had originally planned to produce and sell 2,700 tents. In keeping with its desire to hold some DM Inventory at year-end, it purchased 35,680 square yards of canvas at $4.15 per square yard. Windsor's DL cost totaled $71,744 for the 3,776 hours that were actually used. Price variance Determine Windsor's DM and DL price and efficiency variances; specify the amount and sign for all. Efficiency variance @ $4/square yard @$18/DL hour $ $ DM $ $ DL
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