LO 9-3, 9-4, PA9-1 Calculating Direct Material, Direct Labor, Variable Overhead Variances Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Quantity Standard Unit Cost Direct materials (clay Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($250,000 - 100.000 units) 1.5 lbs 1.5 hrs 1.5 hrs Standard Price (Rate) $ 1.60 per lb $12.00 per hr $ 1.20 perhe $ 240 18.00 1.80 250 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 110,000 178.200 $ 267 300 150.000 $2,025,000 $ 200,000 $ 270,000 Required: Calculate the following for Barley Hoppe 1. Direct materials price, quantity, and spending variances 2. Direct labor rate, efficiency, and spending variances & Variable overhead rate, efficiency, and spending variances