Student Name: Class: Page 429 of the textbook Problem 09-01 BARLEY HOPP, INC. Requirement 1: Direct Materials Variance AP x AQ Direct Materials Price > Variance < AQx SP Direct Materials Quantity Variance < > Total Direct Materials Spending Variance < Requirement 2: Direct Labor Variance AH x AR Direct Labor Rate > Variance < Try again! SQ x SP AH x SR SH x SR Direct Labor Efficiency Variance < > Total Direct Labor Spending Variance < $ Try again! Requirement 3: Variable Overhead Rate & Efficiency Variances Actual Variable Overhead Cost AH x SR Variable Overhead Rate > Variance < Variable Overhead Efficiency Variance < Applied Variable Overhead Cost Total Variance > Over/Underapplied Variable Overhead < $ Try again! Given Data PA09-01: Page 429 BARLEY HOPP, INC. Standard cost information: Direct costs: Clay (pounds) Direct labor (hours) Variable manufacturing overhead Fixed manufacturing overhead Actual results from 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 Standard Standard Standard Quantity Price (rate) Unit Cost 1.5 $ 1.60 $ 2.40 1.5 $ 12.00 $ 18.00 $ 1.20 $ 1.80 $ 2.50 110,000 178,200 $ 267,300 150,000 $ 2,025,000 $ 200,000 $ 270,000 Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: D Standard Standard Price Standard Aa Aa Quantity (Rate) Unit Cost Direct materials (clay) 1.5 lbs. $ 1.60 per lb. $ 2.40 Direct labor 1.5 hrs. $12.00 per hr. 18.00 Variable manufacturing overhead (based on direct labor hours) 1.5 hrs. $ 1.20 per hr. 1.80 Fixed manufacturing overhead ($250,000 100,000 units) Barley Hopp had the following actual results last year: Number of units produced and sold 110,000 Number of pounds of clay used 178,200 Cost of clay $ 267,300 Number of labor hours worked 150,000 Direct labor cost $2,025,000 Variable overhead cost $ 200,000 Fixed overhead cost $ 270,000 2.50