60.1K

Verified Solution

Link Copied!

all in one question.. help please

Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost Information follows: Standard Quantity 1.60 lbs. 1.60 hrs. Standard Price (Rate) $ 1.70 per lb. $12.00 per hr. Standard Unit Cost $ 2.72 19.20 Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($253,000.00 + 115,000.00 units) 1.60 hrs. $ 1.10 per hr. 1.76 2.29 Barley Hopp had the following actual results last year Number of units produced and sold Number of pounds of clay used Cost of clay Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 120,000 208, 200 $333,120 165,000 $2,343,000 $ 230,000 $ 285,000 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 Required 2 > Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Quantity 1.60 lbs. 1.60 hrs. Standard Price (Rate) $ 1.70 per 1b. $12.00 per hr Standard Unit Cost $ 2.72 19.20 Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead (5253,000.00 115,000.00 units) 1.60 hrs. $ 1.10 per hr. 1.76 2.20 Barley Hopp had the following actual results last year. Number of units produced and sold Number of pounds of clay used Cost of clay Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 120,000 208,200 $333,120 165,000 $2,343,000 $ 230,000 $ 285,000 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 Required 3 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, "U" for unfavorable, and "None" for no effect (.e., zero variance).) Direct Labor Rate Variance Direct Labor Efficiency Variance Direct Labor Spending Variance 67 HE Next Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost Information follows: Standard Quantity 1.60 lbs. 1.60 hrs. Standard Price (Rate) $ 1.78 per lb. $12.00 per hr. Standard Unit Cost $ 2.72 19.20 Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($253,000.00 115,000.00 units) 1.60 hrs. $ 1.10 per hr. 1.76 2.20 Barley Hopp had the following actual results last year: Number of units produced and sold Number of pounds of clay used Cost of clay Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 120,000 208,200 $ 333,120 165,000 $2,343,000 $ 230,000 $ 285,000 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 varlances for Barley Hopp. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Requirdo 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 & Explanation Solved by verified expert

See Answer