Please do not give solution in image format thanku Barley Hopp, Incorporated, manufactures custom-ordered commemorative beer steins. Its standard cost information follows:StandardUnitCost$ 3.0617.001.872.30Direct materials (clay)Direct laborVariable manufacturing overhead (based ondirect labor hours)Fixed manufacturing overhead ($402, 500.00-175,000.00 units)Barley Hopp had the following actual results last year:Number of units produced and soldNumber of pounds of clay purchased and usedCost of clayNumber of labor hours worked.Direct labor costVariable overhead costFixed overhead costRequired:Standard Quantity1.70 pounds1.70 hours1.70 hours180,000328,200$ 623,580225,000$ 3,082,500$ 350,000$ 400,000Standard Price (Rate)$ 1.80 per pound$ 10.00 per hour$ 1.10 per hour1. 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. Required 1 Required 2 Required 3Calculate the direct materials price, quantity, and total spending variances for Barley Hopp.Note: Do not round your intermediate calculations. Enter the dollar value of the variance as an absolute value (positivenumber) and then use the drop-down menu to indicate the effect of each variance by selecting "F" for favorable, "U" forunfavorable, and "None" for no effect (i.e., zero variance).Direct Materials Price VarianceDirect Materials Quantity VarianceDirect Materials Spending VarianceDirect Labor Rate VarianceDirect Labor Efficiency VarianceDirect Labor Spending VarianceRequired 1 Required 2 Required 3Required 1Required 1 Required 2 Required 3Calculate the direct labor rate, efficiency, and total spending variances for Barley Hopp.Note: Do not round your intermediate calculations. Enter the dollar value of the variance as an absolute value (positivenumber) and then use the drop-down menu to indicate the effect of each variance by selecting "F" for favorable, "U" forunfavorable, and "None" for no effect (i.e., zero variance).Variable Overhead Rate VarianceVariable Overhead Efficiency VarianceVariable Overhead Spending Variance< Required 1Required 2 >< Required 2Required 3 >Calculate the variable overhead rate, efficiency, and total spending variances for Barley Hopp.Note: Do not round your intermediate calculations. Enter the dollar value of the variance as an absolute value (positivenumber) and then use the drop-down menu to indicate the effect of each variance by selecting "F" for favorable, "U" forunfavorable, and "None" for no effect (i.e., zero variance).Show less ARequired 3>Show less AShow less A

Name: Please do not give solution in image format thanku Barley Hopp, Incorp
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Description: Please do not give solution in image format thanku Barley Hopp, Incorporated, manufactures custom-ordered commemorative beer steins. Its standard cost information follows:StandardUnitCost$ 3.0617.001.872.30Direct materials (clay)Direct laborVariable

The variance is the difference between the standard and actual production data. The variance is…

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Barley Hopp, Incorporated, manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Unit Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($402, 500.00- 175,000.00 units) Barley Hopp had the following actual results last year: Number of units produced and sold Number of pounds of clay purchased and used Cost of clay Standard Quantity 1.70 pounds 1.70 hours 1.70 hours 180,000 328,200 $ 623,580 225,000 $ 3,082,500 $ 350,000 $ 400,000 Standard Price (Rate) $ 1.80 per pound $ 10.00 per hour $ 1.10 per hour Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 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 Cost $ 3.06 17.00 1.87 2.30

Barley Hopp, Incorporated, manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Unit Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($402, 500.00- 175,000.00 units) Barley Hopp had the following actual results last year: Number of units produced and sold Number of pounds of clay purchased and used Cost of clay Standard Quantity 1.70 pounds 1.70 hours 1.70 hours 180,000 328,200 $ 623,580 225,000 $ 3,082,500 $ 350,000 $ 400,000 Standard Price (Rate) $ 1.80 per pound $ 10.00 per hour $ 1.10 per hour Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 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 Cost $ 3.06 17.00 1.87 2.30

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...

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