Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PA9-1 (Algo) Calculating Direct Material, Direct Labor, Variable Overhead Variances [LO 9-3, 9-4,9 Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
PA9-1 (Algo) Calculating Direct Material, Direct Labor, Variable Overhead Variances [LO 9-3, 9-4,9 Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Standard Price standard Quantity (Ratel Unit Coat Direct materials (elay) 1.60 lbs1.70 per lb. $2.72 Direct labor 1.60 hrs. $12.00 per hr. 19.20 Variable manufacturing overhead baned on direct labor hours) 1.60 hrs. $ 1.10 per he. 1.76 Fixed manufacturing overhead ($450,000.00 150,000.00 units) 3.00 Barley Hopp had the following actual results last year: Number of units produced and would Number of pounds of clay used Cont of clay Number of labor hours worked Direct labor cost Variable overhead cost Pixed overhead cont 155,000 278,200 5445,120 200,000 $3,000,000 $ 300,000 $ 470,000 Required: 1. Calculate the direct materials price, quantity, and total spending varlances for Barley Hopp. 2. Calculate the direct labor rate, efficiency, and total spending variances for Barley Hopp. 3. Calculate the variable overhead rate, efficiency, and total spending variances for Barley Hopp. savo 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 coat Fixed overhead cost 155,000 278, 200 $ 445, 120 200,000 $3,000,000 $ 300,000 $ 470,000 Required: 1. Calculate the direct materials price, quantity, and total spending variances for Barley Hopp. 2. Calculate the direct labor rate, efficiency, and total spending variances for Barley Hopp. 3. Calculate the variable overhead rate, efficiency, and total spending variances for Barley Hopp. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 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, "U" for unfavorable, and "None" for no effect (lie, zero variance).) Direct Materials Price Variance Direct Materials Quantity Variance Direct Materials Spending Variance Required 1 Required 2 > 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 155,000 278,200 $ 445,120 200,000 $3,000,000 $ 300,000 $ 470,000 Required: 1. Calculate the direct materials price, quantity, and total spending variances for Barley Hopp. 2. Calculate the direct labor rate, efficiency, and total spending variances for Barley Hopp. 3. Calculate the variable overhead rate, efficiency, and total spending variances for Barley Hopp. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the direct labor rate, efficiency, and total spending variances for Barley Hopp. (Do not round your intermedi calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for ne (1.0, zero variance).) Direct Labor Rate Variance Direct Labor Efficiency Variance Direct Labor Spending Variance (Required 1 Required 3 > rley 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 155,000 278,200 5445,120 200,000 $3,000,000 $ 300,000 5 470,000 equired: Calculate the direct materials price, quantity, and total spending variances for Barley Hopp. Calculate the direct labor rate, efficiency, and total spending variances for Barley Hopp. Calculate the variable overhead rate, efficiency, and total spending variances for Barley Hopp. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 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, "U" for unfavorable, and "Mone" for no effect (.e., zero variance).) Variable Overhead Rote Variance Variable Overhead Emiciency Varianco Variable Overhead Spending Variance

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

Effective Internal Auditing

Authors: Manuel E. Peña-Rodríguez

1st Edition

1736742922, 978-1736742921

More Books

Students also viewed these Accounting questions