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Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Price Standard (Rate) Unit Cost $1.70 per lb. $2.72 $ 12 per hr. 19.20 $1.1 per hr. 1.76 Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($253,000 115,000 units) Number of units produced and sold Number of pounds of clay used Cost of clay Barley Hopp had the following actual results last year: Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost Standard Quantity 1.6 lbs. 1.6 hrs. 1.6 hrs. Req 3 120,000 208,200 $333,120 165,000 1. Fixed Overhead Spending Variance 2. Fixed Overhead Volume Variance $2,343,000 $ 230,000 $285,000 Required: 1 & 2. Calculate the fixed overhead spending variance and volume variance for Barley Hopp. 3. Calculate the total over- or underapplied fixed manufacturing overhead for Barley Hopp. 2.20 Complete this question by entering your answers in the tabs below. Req 1 and 2 Calculate the fixed overhead spending variance and volume variance for Barley Hopp. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (1.e., zero variance).) Req 3 >
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Price Standard (Rate) $1.70 per lb. Unit Cost $2.72 $ 12 per hr. 19.20 Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($253,000 115,000 units) Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost Barley Hopp had the following actual results last year: Number of units produced and sold Number of pounds of clay used Cost of clay Req 1 and 2 Standard Quantity Req 3 1.6 lbs. 1.6 hrs. 1.6 hrs. $ Fixed overhead 120,000 208,200 $ 333,120 165,000 $2,343,000 $ 230,000 $285,000 Required: 1& 2. Calculate the fixed overhead spending variance and volume variance for Barley Hopp. 3. Calculate the total over- or underapplied fixed manufacturing overhead for Barley Hopp. Complete this question by entering your answers in the tabs below. 1.1 per hr. 1.76 < Req 1 and 2 2.20 Calculate the total over- or underapplied fixed manufacturing overhead for Barley Hopp. (Do not round your intermediate calculations.)