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Unit Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($356,500.00 ÷ 155,000.00 units) Barley Hopp had the following actual results last year: Number of units produced and sold Number of pounds of clay purchased and used Cost of clay Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost Required: Standard Quantity Standard Price (Rate) 1.70 pounds 1.70 hours $ 1.80 per pound $ 13.00 per hour Cost $ 3.06 22.10 1.70 hours $ 1.40 per hour 2.38 2.30 160,000 288,200 $ 547,580 205,000 $ 3,587,500 $ 310,000 $ 350,000 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. Note: Do not round your intermediate calculations. Enter the dollar value of the variance as an absolute value (positive number) and then use the drop-down menu to indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Direct Labor Rate Variance Direct Labor Efficiency Variance Direct Labor Spending Variance MacBook Air Show less A

Unit Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($356,500.00 ÷ 155,000.00 units) Barley Hopp had the following actual results last year: Number of units produced and sold Number of pounds of clay purchased and used Cost of clay Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost Required: Standard Quantity Standard Price (Rate) 1.70 pounds 1.70 hours $ 1.80 per pound $ 13.00 per hour Cost $ 3.06 22.10 1.70 hours $ 1.40 per hour 2.38 2.30 160,000 288,200 $ 547,580 205,000 $ 3,587,500 $ 310,000 $ 350,000 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. Note: Do not round your intermediate calculations. Enter the dollar value of the variance as an absolute value (positive number) and then use the drop-down menu to indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Direct Labor Rate Variance Direct Labor Efficiency Variance Direct Labor Spending Variance MacBook Air Show less A

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter9: Standard Costing: A Functional-based Control Approach
Section: Chapter Questions
Problem 33P: Business Specialty, Inc., manufactures two staplers: small and regular. The standard quantities of...
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Unit Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($356,500.00 ÷ 155,000.00 units) Barley Hopp had the following actual results last year: Number of units produced and sold Number of pounds of clay purchased and used Cost of clay Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost Required: Standard Quantity Standard Price (Rate) 1.70 pounds 1.70 hours $ 1.80 per pound $ 13.00 per hour Cost $ 3.06 22.10 1.70 hours $ 1.40 per hour 2.38 2.30 160,000 288,200 $ 547,580 205,000 $ 3,587,500 $ 310,000 $ 350,000 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. Note: Do not round your intermediate calculations. Enter the dollar value of the variance as an absolute value (positive number) and then use the drop-down menu to indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Direct Labor Rate Variance Direct Labor Efficiency Variance Direct Labor Spending Variance <Prev 1 of 1 www Next > MacBook Air Show less A
Transcribed Image Text:Unit Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($356,500.00 ÷ 155,000.00 units) Barley Hopp had the following actual results last year: Number of units produced and sold Number of pounds of clay purchased and used Cost of clay Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost Required: Standard Quantity Standard Price (Rate) 1.70 pounds 1.70 hours $ 1.80 per pound $ 13.00 per hour Cost $ 3.06 22.10 1.70 hours $ 1.40 per hour 2.38 2.30 160,000 288,200 $ 547,580 205,000 $ 3,587,500 $ 310,000 $ 350,000 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. Note: Do not round your intermediate calculations. Enter the dollar value of the variance as an absolute value (positive number) and then use the drop-down menu to indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Direct Labor Rate Variance Direct Labor Efficiency Variance Direct Labor Spending Variance <Prev 1 of 1 www Next > MacBook Air Show less A
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