Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its st
ID: 2444612 • Letter: B
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Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows:
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Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows:
Home-myLSU xfh Course: 2015 Fall AC x MlcGraw-Hill Educati x y Chapter 9 Homewor x -) C Dezto.mheducation.com/hm.tpx?--0.8385211424628527-144649331 9095 Barley Hopp, Inc., M/X Miguel Lsu Required: 1. Calculate the direct materials price, quantity, and total spending variances for Barley Hopp. (Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable and "U" for unfavorable.) Direct Materials Price Variance Direct Materials Quantity Variance Direct Materials Spending Variance 2. Calculate the direct labor rate, efficiency, and total spending variances for Barley Hopp. (Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable and "U" for unfavorable.) Direct Labor Rate Variance Direct Labor Efficiency Variance Direct Labor Spending Variance 3. Calculate the variable overhead rate, efficiency, and total spending variances for Barley Hopp. (Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable Overapplied and "U" for unfavorable/underapplied.) Variable Overhead Rate Variance Variable Overhead Efficiency Variance Variable Overhead Spending Variance 1:48 PM 11/2/2015Explanation / Answer
1) Material variance
Materials price varaince = ( Std price - Actual price ) Actual qty
= (2.00 - 2.10 ) 378,200
= 37,820(U)
Matrials quantity varaince = ( std qty allowed - Actual qty) Std price
= (389,500 - 378,200)2
= 22,600(F)
Material spending variance = 15220(U)
2) Direct rate varianc e= ( Std rate - actual rate) Actual hrs
=(28.50 - 23.50 ) 250,000
=750,000(f)
direct efficiency variance = ( Std hrs allowed - actual hrs ) std rate
= (389,500 - 250,000)15
=2092,500(F)
direct labor spending varaince = 2842,500(F)
Varaible overhead rate variance = ( 1.20 - 1.80) 250,000
= 150,000(U)
Variable overhead volume variance = (389,500 - 250,000)1.20
= 167,400(F)
Varaible spending varaince = 17,400(F)
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