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 Quanlily Rale) Unit Cos! Direct materials (clay! 1.70 lbs $ 1.00 per lb. Diret labar 1.70 hrs. $10.00 per hr. 17.00 Variable manufacturing overhead (based on 1.70 hrs. $ 1.10 per hr dinace labor hours) Fixed manufacturing overhead ($392,000.00 - 2.80 140,000.00 units) Barley Hopp had the following actual results last year: Number of units produced and sold Number of pounds of clay used Cost af day Number of labor hours worked Direct labor coet Variable overhead cos! Fixed averhoud cost 145.000 25.200 $ 43 5140 190,000 $2,500,000 3 280,000 $ 410,000 Required: 1. Calculate the direct materials price, quantity, and total spending variances for Barley Happ. 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 Dirert Materials Quantity Variance Direct Materials Spencing Variance 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 and "U" for unfavorable.) Direct Labor Rat Variance Direct Labor Emiciency Variance Direct Labor Spending Verlanca 3. Calculate the variable overneed rate, eficiency, 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