(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) 1.60 lbs. \$ 1.70 per lb. \$ 2.72 Direct labor 1.60 hrs. \$ 16.00 per hr. 25.60 Variable manufacturing overhead    (based on direct labor hours) 1.60 hrs. \$ 1.30 per 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

cost

\$

340,000.00

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.

calculations. Indicate the effect of each variance

by selecting "F" for favorable/Overapplied and "U" for

unfavorable/underapplied.)

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