PA9-1 Calculating Direct Material, Direct Labor, Variable Overhead Variances LO 9-3, 9-4, 9-5) Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Standard Price Standard Quantity Rate Unit Cost 1.50 lbs. 1.60 per lb. Direct materials (clay) 2.40 1.50 hrs $12.00 per hr Direct labor 18.00 Variable manufacturing overhead (based on 1.50 hrs 1.20 per hr direct labor hours) 1.80 Fixed manufacturing overhead ($250,000 2.50 100,000 units) Barley Hopp had the following actual results last year: Number of units produced and sold 110,000 Number of pounds of clay used 178,200 Cost of clay 267,300 Number of labor hours worked 150,000 Direct labor cost $2,025,000 Variable overhead cost 200,000 270,000 Fixed overhead cost Required: 1. Calculate the direct materials price, quantity, and total spending variances for Barley Hopp. (Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable and "U" for unfavorable.) Direct Materials Price Variance Direct Materials Quantity Variance Direct Materials Spending Variance