Calculate the fixed overhead spending variance and volume variance for Barley Hopp. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance).) 1. Fixed Overhead Spending Variance 2. Fixed Overhead Volume Variance Run Req3 > Calculate the total over- or underapplied fixed manufacturing overhead for Barley Hopp. (Do not round your intermediate calculations.) Fixed overhead Req 1 and 2 Reos Barley Horr, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($312,500 125,000 units) Standard Quantity 1.6 lbs. 1.6 hrs. Standard Price Standard Unit (Rate) Cost $ 1.70 per lb. $ 2.72 $ 14 per hr. 22.40 1.6 hrs. $ 1.2 per hr. 1.92 2.50 Barley Hopp had the following actual results last year: Number of units produced and sold 130,000 Number of pounds of clay used 228, 200 Cost of clay $ 365, 120 Number of labor hours worked 175,000 Direct labor cost $2,975,000 Variable overhead cost $ 250,000 Fixed overhead cost $ 330,000 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