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 Direct materials (clay) 1.70 lbs. $ 1.80 per Ib. $ 3.06 Direct labor 1.70 hrs. $13.00 per hr. 22.10 Variable manufacturing overhead (based on on 1.70 hrs. $ 1.10 per hr. 1.87 direct labor hours) Fixed manufacturing overhead ($276,000.00 + 2.30 120,000.00 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 125,000 218,200 $ 370,940 170,000 $ 2,805,000 $ 240,000 $ 300,000 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/Overapplied and "U" for unfavorable/underapplied.) Variable Overhead Rate Variance Variable Overhead Efficiency Variance Variable Overhead Spending Variance