3 Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: 10 points Standard Quantity Direct materials (clay) 1.70 lbs. Direct labor 1.70 hrs Variable manufacturing overhead (based on direct labor hours) 1.70 hrs. Fixed manufacturing overhead (5456,000.00 190,000.00 units) Standard Price (Rate) $ 1.80 per lb. $14.00 per hr $ 1.10 per hr. Standard Unit Cost $ 3.06 23.80 1.87 2.40 Dok References 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 195,eee 358,200 $ 680,580 240,000 $4,680,00 $ 380,000 $430,000 ko 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 3 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.) 10 points Direct Labor Rate Variance Direct Labor Efficiency Variance Direct Labor Spending Variance cBook References 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 Elficiency Variance Variable Overhead Spending Variance