Maurice Tutor

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Category > Accounting Posted 18 Aug 2017 My Price 11.00

Barley Hopp, Inc.

1.

value:
5.00 points

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) 1.70 lbs.     $ 1.80 per lb. $ 3.06    
  Direct labor 1.70 hrs.     $ 13.00 per hr.   22.10    
  Variable manufacturing overhead
   (based on direct labor hours)		 1.70 hrs.     $ 1.40 per hr.   2.38    
  Fixed manufacturing overhead ($356,500.00 Af· 155,000.00 units)             2.30   
 
Barley Hopp had the following actual results last year:
     
  Number of units produced and sold   160,000.00  
  Number of pounds of clay used   288,200.00
  Cost of clay $ 547,580.00  
  Number of labor hours worked   205,000.00
  Direct labor cost $ 3,587,500.00  
  Variable overhead cost $ 310,000.00  
  Fixed overhead cost $ 350,000.00  
 
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.)

 

Answers

Maurice Tutor
(5)
Status NEW Posted 18 Aug 2017 03:08 PM My Price 11.00

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