After being banished by his father, Hereward went north to Northumberland and spent Christmas watching people wrestle bears for fun. He decided to test his strength against the biggest, baddest bear there. "This was the offspring of a famous Norwegian bear which had the head and feet of a man and human intelligence, which understood the speech of men and was cunning in battle. Its father, so the stories and legends told, was said to have raped a girl in the woods and through her to have engendered Beorn, King of Norway."(M. Swanton trans.)
All the bees are easily explained. 'Beo' is Anglo-Saxon for 'bee'.
It is a curious little tale and is probably taken from the same story that this Norwegian legend was taken from. Whether Tolkien chose the name for the story in Gesta Herewardi or the Norwegian story, I do not know. Either one is likely.