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Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (Clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($450,000.00 150,000.00 units) Barley Hopp had the following actual results last year: Number of units produced and sold Number of pounds of clay used Cost of clay Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead coat Quantity 1.60 lbs. 1.60 hrs. Standard Standard Price (Rate) $ 1.70 per 1b. $12.00 per hr. 1.60 hrs. $ 1.10 per hr. 155,000 278,200 $445,120 200,000 $3,000,000 $ 300,000 $ 470,000 Direct Materials Price Variance Direct Materials Quantity Variance Direct Materials Spending Variance Complete this question by entering your answers in the tabs below. Required: 1. Calculate the direct materials price, quantity, and total spending variances for Barley Hopp. 2. Calculate the direct labor rate, efficiency, and total spending variances for Barley Hopp. 3. Calculate the variable overhead rate, efficiency, and total spending variances for Barley Hopp. Standard Unit Cost $ 2.72 19.20 1-76 3.00 Required 1 Required 2 Required 3 Calculate the direct materiais price, quantity, and total spending variances for Barley Hopp. (Do not round your intermediate calculations. Indicate the effect of each variance by selecting "P" for favorable, "u for unfavorable, and "None" for no effect (L.e., zero variance).) Recont Required 2 >
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Price Standard (Rate) Unit Cost $2.72 $ 1.70 per lb. $12.00 per hr. 19.20 $ 1.10 per hr. 1.76 3.00 Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($450,000.00 150,000.00 units) Barley Hopp had the following actual results last year: Number of units produced and sold Number of pounds of clay used Cost of clay Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead coat Standard Quantity 1.60 lbs. 1.60 hrs. 1.60 hrs. Direct Labor Rate Variance Direct Labor Efficiency Variance Direct Labor Spending Variance 155,000 278,200 445,120 200,000 $3,000,000 $ 300,000 $ 470,000 $ Required: 1. Calculate the direct materials price, quantity, and total spending variances for Barley Hopp. 2. Calculate the direct labor rate, efficiency, and total spending variances for Barley Hopp. 3. Calculate the variable overhead rate, efficiency, and total spending variances for Barley Hopp. Complete this question by entering your answers in the tabs below. Required 3 Required: Required 2 Calculate the direct labor rate, efficiency, and total spending variances for Barley Hopp. (Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "u" for unfavorable, and "None" for no effect (1.e., zero variance).) < Required 1 Required 3 >
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Unit Cost $ 2.72 19.20 Direct materials (clay)) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead. ($450,000.00+ 150,000.00 units) Barley Hopp had the following actual results last year: Number of units produced and sold Number of pounds of clay used Cost of clay Number of labor hours worked Direct labor cost. Variable overhead cost Fixed overhead cost Standard Quantity 1.60 lbs. 1.60 hrs. 1.60 hrs. 155,000 278,200 $ 445,120 200,000 $3,000,000 $ 300,000 470,000 $ Variable Overhead Rate Variance Variable Overhead Efficiency Variance Variable Overhead Spending Variance Standard Price (Rate) $ 1.70 per lb. $12.00 per hr. $ 1.10 per hr. Required: 1. Calculate the direct materials price, quantity, and total spending variances for Barley Hopp. 2. Calculate the direct labor rate, efficiency, and total spending variances for Barley Hopp. 3. Calculate the variable overhead rate, efficiency, and total spending variances for Barley Hopp. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3. Calculate the variable overhead rate, efficiency, and total spending variances for Barley Hopp. (Do not round your Intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (1.e., zero variance).) < Required 2 1-76 3.00 Recured 3