Maurice Tutor

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Category > Accounting Posted 18 Aug 2017 My Price 9.00

Barley Hopp, Inc

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  
  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  

 

Answers

Maurice Tutor
(5)
Status NEW Posted 18 Aug 2017 03:08 PM My Price 9.00

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