Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Standard Price Standard Quantity (Rate) Unit Cost 1.8 lbs. $1.90 per

image text in transcribed
image text in transcribed
image text in transcribed
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Standard Price Standard Quantity (Rate) Unit Cost 1.8 lbs. $1.90 per lb. $ 3.42 1.8 hrs. $ 11 per hr. 19.80 Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($396,000 4 180,000 units) 1.8 hrs. $ 1.1 per hr. 1.98 2.20 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 185,000 338,200 $ 676,400 230,000 $3,680,000 $ 360,000 $ 380,000 Required: 1 & 2. Calculate the fixed overhead spending variance and volume variance for Barley Hopp. 3. Calculate the total over- or underapplied fixed manufacturing overhead for Barley Hopp. Number of pounds of clay used Cost of clay Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 338,200 $ 676,400 230,000 $3,680,000 $ 360,000 $ 380,000 ped Required: 1 & 2. Calculate the fixed overhead spending variance and volume variance for Barley Hopp. 3. Calculate the total over- or underapplied fixed manufacturing overhead for Barley Hopp. -Book Complete this question by entering your answers in the tabs below. Print Req 1 and 2 Req3 Calculate the fixed overhead spending variance and volume variance for Barley Hopp. (Indicate the effect of each variance by selecting "" for favorable, "U" for unfavorable, and "None" for no effect (1.e., zero variance).) rences 1. Fixed Overhead Spending Variance 2. Fixed Overhead Volume Variance 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 185,000 338,200 $ 676,400 230,000 $3,680,000 $360,000 $ 380,000 Skipped Required: 1 & 2. Calculate the fixed overhead spending variance and volume variance for Barley Hopp. 3. Calculate the total over- or underapplied fixed manufacturing overhead for Barley Hopp. eBook Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 aferences Calculate the total over- or underapplied fixed manufacturing overhead for Barley Hopp. (Do not round your intermediate calculations.) Fixed overhead

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Automotive Process Audits Preparations And Tools Practical Quality Of The Future

Authors: D. H. Stamatis

1st Edition

036775939X, 978-0367759391

More Books

Students also viewed these Accounting questions

Question

Factors Affecting Conflict

Answered: 1 week ago

Question

Describe the factors that lead to productive conflict

Answered: 1 week ago

Question

Understanding Conflict Conflict Triggers

Answered: 1 week ago