10.00 points Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows Standard Standard Price Standard Unit Quantity 1.60 lbs. S 1.70 per b $ 2.72 1.60 hrs. $ 16.00 per hr (Rate)Cost Direct materials (clay) Direct labor 25.60 2.08 2.20 Variable manufacturing overhead (based on 1.60 hrs. $ 1.30 per hr direct labor hours) Fixed manufacturing overhead ($374,000 00- 170,000.00 units) Barley Hopp had the following actual results last year Number of units produced and solod Number of pounds of clay used Cost of clay Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 175,000 318,200 $ 572,760 220,000 $4,510,000 S 340,000 $ 380,000 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.) Direct Materials Price Variance Direct Materials Quantity Variance Direct Materials Spending Variance 2. Calculate the direct labor rate, effciency, and totel spending varfiances 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