Barley Hopp, Incorporated, manufactures custom-ordered commemorative beer steins. Its standard cost information follows: 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 Please avoid answers in image format thank you Barley Hopp, Incorporated, manufactures custom-ordered commemorative beer steins. Its standard cost information follows:StandardUnitCost$ 3.0622.10Direct materials (clay)Direct laborVariable manufacturing overhead (based ondirect labor hours)Fixed manufacturing overhead ($356,500 -155,000 units)Barley Hopp had the following actual results last year:Number of units produced and soldNumber of pounds of clay purchased and used.Cost of clayNumber of labor hours workedDirect labor costVariable overhead costFixed overhead costStandard Quantity1.7 pounds1.7 hours1.7 hours160,000288,200$ 547,580205,000$3,587,500$ 310,000$ 350,000Standard Price (Rate).$ 1.80 per pound$ 13.00 per hour$ 1.40 per hourRequired: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 Parlou Honn2.382.30

Name: Barley Hopp, Incorporated, manufactures custom-ordered commemorative b
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Description: Barley Hopp, Incorporated, manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Required:1 & 2. Calculate the fixed overhead spending variance and volume variance for Barley Hopp. 3. Calculate the total over-

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Answered: Barley Hopp, Incorporated, manufactures…

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ISBN:9781259964947

Author:Libby

Publisher:Libby

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Barley Hopp, Incorporated, manufactures custom-ordered commemorative beer steins. Its standard cost information follows:

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

Please avoid answers in image format thank you

Barley Hopp, Incorporated, manufactures custom-ordered commemorative beer steins. Its standard cost information follows:
Standard
Unit
Cost
$ 3.06
22.10
Direct materials (clay)
Direct labor
Variable manufacturing overhead (based on
direct labor hours)
Fixed manufacturing overhead ($356,500 -
155,000 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
Standard Quantity
1.7 pounds
1.7 hours
1.7 hours
160,000
288,200
$ 547,580
205,000
$3,587,500
$ 310,000
$ 350,000
Standard Price (Rate).
$ 1.80 per pound
$ 13.00 per hour
$ 1.40 per hour
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 Parlou Honn
2.38
2.30

Definition Definition System of assigning an estimated cost to the product (instead of the actual cost) so that the product cost can be determined well in advance and the pricing of the product can be done on time. Since the actual cost cannot be predicted at the initial stage of the production process, the estimated cost is recorded in the books. Any deviation of the estimated cost of the actual cost is adjusted in the books at the end of the period.

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