Question Details

(Solution Download) Variable manufacturing overhead (based on direct labor hours)


 

 

 

 

 

 

 

Barley Hopp, Inc., manufactures custom-ordered commemorative

 

beer steins. Its standard cost information follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Standard   

 

Quantity   

 

Standard Price

 

(Rate)

 

Standard

 

Unit Cost

  Direct materials

 

(clay)

1.80lbs.

 

    $

1.90per lb.$3.42

 

   

  Direct labor1.80hrs.

 

    $

16.00per hr.28.80

 

   

  Variable

 

manufacturing overhead

 

   (based on direct labor hours)

1.80hrs.

 

    $

1.10per hr.1.98

 

   

  Fixed manufacturing

 

overhead ($487,500.00 Af· 195,000.00 units)

 

2.50   

 

 

 

 

 

 

 

Barley Hopp had the following

 

actual results last year:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Number of units

 

produced and sold

 

200,000.00  

  Number of pounds of

 

clay used

368,200.00
  Cost of clay$

 

736,400.00  

  Number of labor

 

hours worked

245,000.00
  Direct labor

 

cost

$

 

5,806,500.00  

  Variable overhead

 

cost

$

 

390,000.00  

  Fixed overhead

 

cost

$

 

470,000.00  

 

 

 

 

 

 

 

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.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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.)

 

 

 

 

 

 

 

 

 


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