Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Quantity 1.5...

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Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Quantity 1.5 lbs. 2.1 hrs. 2.1 hrs. Standard Price (Rate) $ 1.70 per lb. $13.00 per hr. Standard Unit Cost $ 2.55 27.30 Direct materials (clay) Direct labor $ 1.90 per hr. 3.99 Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($235,000+ 94,000 units) 2.50 Barley Hopp had the following actual results last year: Number of units produced and sold 116,500 110,000 Number of pounds of clay used Cost of clay Number of labor hours worked $ 165,000 156,500 $708,500 $ 216,500 Direct labor cost Variable overhead cost Fixed overhead cost $ 330,000 Required: Prepare the journal entry to record Barley Hopp's fixed manufacturing overhead costs and related variances for last year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Quantity 1.5 lbs. 2.1 hrs. 2.1 hrs. Standard Price (Rate) $ 1.70 per lb. $13.00 per hr. Standard Unit Cost $ 2.55 27.30 Direct materials (clay) Direct labor $ 1.90 per hr. 3.99 Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($235,000+ 94,000 units) 2.50 Barley Hopp had the following actual results last year: Number of units produced and sold 116,500 110,000 Number of pounds of clay used Cost of clay Number of labor hours worked $ 165,000 156,500 $708,500 $ 216,500 Direct labor cost Variable overhead cost Fixed overhead cost $ 330,000 Required: Prepare the journal entry to record Barley Hopp's fixed manufacturing overhead costs and related variances for last year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

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