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Barley Hopp, Incorporated, manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Unit Cost $3.06 25.50 Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($338,000+ 130,000 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 135,000 238,200 $ 404,940 180,000 $ 3,510,000 $ 260,000 $ 350,000 Req 3 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. Complete this question by entering your answers in the tabs below. Standard Price (Rate) $ 1.80 per pound $ 15.00 per hour $ 1.10 per hour 1.87 2.60 Req 1 and 2 Calculate the fixed overhead spending variance and volume variance for Barley Hopp. Note: 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).

Barley Hopp, Incorporated, manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Unit Cost $3.06 25.50 Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($338,000+ 130,000 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 135,000 238,200 $ 404,940 180,000 $ 3,510,000 $ 260,000 $ 350,000 Req 3 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. Complete this question by entering your answers in the tabs below. Standard Price (Rate) $ 1.80 per pound $ 15.00 per hour $ 1.10 per hour 1.87 2.60 Req 1 and 2 Calculate the fixed overhead spending variance and volume variance for Barley Hopp. Note: 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).

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Barley Hopp, Incorporated, manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Unit Cost $ 3.06 25.50 Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($338,000+ 130,000 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 Req 1 and 2 135,000 238,200 $ 404,940 180,000 $ 3,510,000 Req 3 $ 260,000 $ 350,000 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. Complete this question by entering your answers in the tabs below.. Standard Price (Rate) $ 1.80 per pound $ 15.00 per hour $ 1.10 per hour 1.87 2.60 Calculate the fixed overhead spending variance and volume variance for Barley Hopp. Note: 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).
Transcribed Image Text:Barley Hopp, Incorporated, manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Unit Cost $ 3.06 25.50 Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($338,000+ 130,000 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 Req 1 and 2 135,000 238,200 $ 404,940 180,000 $ 3,510,000 Req 3 $ 260,000 $ 350,000 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. Complete this question by entering your answers in the tabs below.. Standard Price (Rate) $ 1.80 per pound $ 15.00 per hour $ 1.10 per hour 1.87 2.60 Calculate the fixed overhead spending variance and volume variance for Barley Hopp. Note: 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).
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. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Calculate the fixed overhead spending variance and volume variance for Barley Hopp. Note: 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). 1. Fixed Overhead Spending Variance 2. Fixed Overhead Volume Variance Req 1 and 2 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. < Reg 1 and 2 Complete this question by entering your answers in the tabs below. Req 3 Req 3 > Fixed overhead Calculate the total over- or underapplied fixed manufacturing overhead for Barley Hopp. < Req 1 and 2 Req>
Transcribed Image Text: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. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Calculate the fixed overhead spending variance and volume variance for Barley Hopp. Note: 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). 1. Fixed Overhead Spending Variance 2. Fixed Overhead Volume Variance Req 1 and 2 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. < Reg 1 and 2 Complete this question by entering your answers in the tabs below. Req 3 Req 3 > Fixed overhead Calculate the total over- or underapplied fixed manufacturing overhead for Barley Hopp. < Req 1 and 2 Req>
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