Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows Standard Standard Price Standard (Rate) Quantity Unit Cost 1.70 per lb 2.72 Direct materials (clay) 1.60 lbs $12.00 per hr Direct labor 1.60 hrs 19.20 1.10 per hr Variable manufacturing overhead 1.60 hrs 1.76 (based on direct labor hours) Fixed manufacturing overhead ($450,000.00 150,000.00 3.00 units) Barley Hopp had the following actual results last year: Number of units produced and sold 155,000.00 Number of pounds of clay used 278,200.00 Cost of clay 445,120.00 Number of labor hours worked 200,000.00 $3,000,000.00 Direct labor cost 300,000.00 Variable overhead cost 470,000.00 Fixed overhead cost Required: 1. Calculate the direct materials price, quantity, and total spending variances for Barley Hop (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 Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows Standard Standard Price Standard (Rate) Quantity Unit Cost 1.70 per lb 2.72 Direct materials (clay) 1.60 lbs $12.00 per hr Direct labor 1.60 hrs 19.20 1.10 per hr Variable manufacturing overhead 1.60 hrs 1.76 (based on direct labor hours) Fixed manufacturing overhead ($450,000.00 150,000.00 3.00 units) Barley Hopp had the following actual results last year: Number of units produced and sold 155,000.00 Number of pounds of clay used 278,200.00 Cost of clay 445,120.00 Number of labor hours worked 200,000.00 $3,000,000.00 Direct labor cost 300,000.00 Variable overhead cost 470,000.00 Fixed overhead cost Required: 1. Calculate the direct materials price, quantity, and total spending variances for Barley Hop (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