Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Price (Rate)...

   

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Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Price (Rate) $ 1.60 per lb. $12.00 per hr. Standard Unit Cost $ 2.40 18.00 $ 1.20 per hr. Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($250,000 + 100,000 units) Number of units produced and sold Number of pounds of clay used Cost of clay Standard Quantity 1.50 lbs. 1.50 hrs. Barley Hopp had the following actual results last year: Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 1.50 hrs.. 110,000 178, 200 $ 267,300 150,000 $2,025,000 $ 200,000 $ 270,000 1.80 2.50 Required: 1. Calculate the direct materials price, quantity, and total spending variances for Barley Hopp. 2. Calculate the direct labor rate, efficiency, and total spending variances for Barley Hopp. 3. Calculate the variable overhead rate, efficiency, and total spending variances for Barley Hopp. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 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, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Direct Materials Price Variance Direct Materials Quantity Variance Direct Materials Spending Variance Required 1 Required 2 Required 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, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Variable Overhead Rate Variance Variable Overhead Efficiency Variance Variable Overhead Spending Variance Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Price (Rate) $ 1.60 per lb. $12.00 per hr. Standard Unit Cost $ 2.40 18.00 $ 1.20 per hr. Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($250,000 + 100,000 units) Number of units produced and sold Number of pounds of clay used Cost of clay Standard Quantity 1.50 lbs. 1.50 hrs. Barley Hopp had the following actual results last year: Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 1.50 hrs.. 110,000 178, 200 $ 267,300 150,000 $2,025,000 $ 200,000 $ 270,000 1.80 2.50 Required: 1. Calculate the direct materials price, quantity, and total spending variances for Barley Hopp. 2. Calculate the direct labor rate, efficiency, and total spending variances for Barley Hopp. 3. Calculate the variable overhead rate, efficiency, and total spending variances for Barley Hopp. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 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, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Direct Materials Price Variance Direct Materials Quantity Variance Direct Materials Spending Variance Required 1 Required 2 Required 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, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Variable Overhead Rate Variance Variable Overhead Efficiency Variance Variable Overhead Spending Variance

Answer rating: 100% (QA)

Answer 1 Direct materials price variance 17820 F 267... View the full answer