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).
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.
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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).](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F67c5839d-c687-4c82-bf94-4d75b237f7bf%2Ff7f20ccb-07d9-4d9b-abdd-0eba86141eb0%2F738jg2l_processed.jpeg&w=3840&q=75)
![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>](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F67c5839d-c687-4c82-bf94-4d75b237f7bf%2Ff7f20ccb-07d9-4d9b-abdd-0eba86141eb0%2F3pijffj_processed.jpeg&w=3840&q=75)
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