Barley Hopp Inc manufactures custom ordered commermorative beer steins. It's standard cost information follows: 1. calculate the direct materials price, quantity and total spending variances for barley hopp 2. calculate the firect labor rate, effciency and total spending cariances for barley hopp 3. caluculate the variable overhead rate, efficiency and total spending variances for barley hopp.
Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
Barley Hopp Inc manufactures custom ordered commermorative beer steins. It's
1. calculate the direct materials price, quantity and total spending variances for barley hopp
2. calculate the firect labor rate, effciency and total spending cariances for barley hopp
3. caluculate the variable
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