Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows:
(1)
for October,
total purchased = actual quantity purchased x actual purchase price
= 1105000 x $2.20
= $2431000
(2)
Material price variance = actual quantity x (standard price - actual price)
= 1105000 x ($2 - $2.20)
= $221000 Unfavorable
(3)
Material quantity variance = standard price x (standard quantity - actual quantity)
= $2 x (960000 - 1105000)
= $290000 Unfavorable
(4)
Labor rate variance = actual hours x (standard rate - actual rate)
5400 = 9000 x (standard rate - $9.75)
Standard rate - $9.75 = 5400/9000
standard rate = $0.6 + $9.75
= $10.35
(5)
Labor efficiency variance = standard rate x (standard hours - actual hours)
= $10.35 x (10000 - 9000)
= $10350 Favorable
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Amber Company produces...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Standard Price Standard Quantity 1.60 lbs. (Rate) $ 1.70 per lb. $16.00 per hr. Unit Cost Direct materials (clay) 2.72 Direct labor 1,60 hrs. 25.60 Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($364,500.00 135,000.00 units) 1.20 per hr 1.60 hrs 1.92 2,70 Barley Hopp had the following actual results last year: Number of units produced and sold Number of pounds of clay...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Quantity 1.60 lbs. Standard Unit Cost $ 2.72 Standard Price (Rate) $ 1.70 per lb. $10.00 per hr. 1.10 per hr. Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($273,000.00 105,000.00 units) 1.60 hrs 1,60 hrs 16.00 1.76 2.60 Barley Hopp had the following actual results last year: Number of units produced and sold Number of pounds of...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($273,000.00 = 105,000.00 units) Standard Quantity 1.60 lbs. 1.60 hrs. 1.60 hrs. Standard Price (Rate) $ 1.70 per lb. $ 10.00 per hr. $ 1.10 per hr. Standard Unit Cost $ 2.72 16.00 1.76 2.60 Barley Hopp had the following actual results last year: Number of units produced and sold Number...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($356,500.00 = 155,000.00 units) Standard Quantity 1.70 lbs. 1.70 hrs. 1.70 hrs. Standard Price (Rate) $ 1.80 per lb. $13.00 per hr. $ 1.40 per hr. Standard Unit Cost $ 3.06 22.10 2.38 2.30 Barley Hopp had the following actual results last year: Number of units produced and sold Number of...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($275,000.00 + 110,000.00 units) Standard Quantity 1.60 lbs. 1.60 hrs. 1.60 hrs. Standard Price (Rate) $ 1.70 per lb. $11.00 per hr. $ 1.10 per hr. Standard Unit Cost $ 2.72 17.60 1.76 2.50 Barley Hopp had the following actual results last year: Number of units produced and sold Number of...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($396,000.00 - 180,000.00 units) Standard Quantity 1.80 lbs. 1.80 hrs. 1.80 hrs. Standard Price (Rate) $ 1.90 per Ib. $11.00 per hr. $ 1.10 per hr. Standard Unit Cost $ 3.42 19.80 1.98 2.20 Barley Hopp had the following actual results last year: Number of units produced and sold Number of...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead (5356.500.00 - 155,000.00 units) Standard Quantity 1.70 lbs. 1.70 hrs. 1.70 hrs. Standard Price (Rate) $ 1.80 per lb. $13.00 per hr. $ 1.40 per hr. Standard Unit Cost $ 3.06 22.10 2.38 2.30 Barley Hopp had the following actual results last year: Number of units produced and sold Number of...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($425,500.00 + 185,000.00 units) Standard Quantity 1.70 lbs. 1.70 hrs. 1.70 hrs. Standard Price (Rate) $ 1.80 per lb. $12.00 per hr. $ 1.10 per hr. Standard Unit Cost $ 3.06 20.40 1.87 2.30 Barley Hopp had the following actual results last year: Number of units produced and sold Number of...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($520,000.00 - 200,000.00 units) Standard Quantity 1.90 lbs. 1.90 hrs. 1.90 hrs. Standard Price (Rate) $ 2.00 per lb. $15.00 per hr. $ 1.20 per hr. Standard Unit Cost $ 3.80 28.50 2.28 2.60 Barley Hopp had the following actual results last year: Number of units produced and sold Number of...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Quantity 1.70 lbs 1.70 hrs. Standard Price (Rate) $ 1.8e per lb. $10.00 per hr. Standard Unit Cost $ 3.06 17.00 Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($346,500.00 165,808.88 units) 1.70 hrs. $ 1.40 per hr. 2.38 2.10 Barley Hopp had the following actual results last year: Number of units produced and sold Number of pounds...