Question: Please answer in proper format with all working clearly Rocky Mountain Camping Equipment, Inc. has established the following direct-material standards for ces; two products. dix)

Please answer in proper format with all working clearly

Rocky Mountain Camping Equipment, Inc. has established the following direct-material standards for ces; two products. dix) Standard Quantity Standard Price Standard car ,cant 12 pounds $6 per pound Deluxe backpatting tart around 6 pounds $8 per pound During March, dis ecrapany purchased 2,100 pounds of tent fabric for its standard model at a cost of $13,440. The actual March production of the standard tent was 100 tents, and 1,250 pounds of fabric were used. Also during March, the company purchased 800 pounds of tent fabric for its deluxe back. packing tent at a cost of $6,320. The firm used 720 pounds of the fabric during March in the production of 120 deluxe tents. Required: 1. Compute the direct-material price variance and quantity variance for March. 2. Prepare journal entries to record the purchase of material, use of material, and incurrence of vari- ances in March

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