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(Solution Download) Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost informat


 

 

 

 

 

 

 

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)

1.60lbs.

 

    $

1.70per lb.$2.72

 

   

  Direct labor1.60hrs.

 

    $

16.00per hr.25.60

 

   

  Variable

 

manufacturing overhead

 

   (based on direct labor hours)

1.60hrs.

 

    $

1.30per hr.2.08

 

   

  Fixed manufacturing

 

overhead ($374,000.00 Af· 170,000.00 units)

 

2.20   

 

 

 

 

 

 

 

 

Barley Hopp had the following actual results last year:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Number of units

 

produced and sold

 

175,000.00  

  Number of pounds of

 

clay used

318,200.00
  Cost of clay$

 

572,760.00  

  Number of labor

 

hours worked

220,000.00
  Direct labor

 

cost

$

 

4,510,000.00  

  Variable overhead

 

cost

$

 

340,000.00  

  Fixed overhead

 

cost

$

 

380,000.00  

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

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 Rate Variance

 

Direct

 

Labor Efficiency Variance

 

Direct

 

Labor Spending Variance

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 


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