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Can you please show work Sharp Company manufactures a product for which the following standards have been set: Standard Quantity or Hours 3 feet ?
Can you please show work
Sharp Company manufactures a product for which the following standards have been set: Standard Quantity or Hours 3 feet ? hours Standard Price or Rate $5 per foot ? per hour Standard Cost $ 15 ? Direct materials Direct labor During March, the company purchased direct materials at a cost of $44,160, all of which were used in the production of 2,350 units of product. In addition, 4,800 direct labor-hours were worked on the product during the month. The cost of this labor time was $36,000. The following variances have been computed for the month: Materials quantity variance Labor spending variance Labor efficiency variance $ 3,150 U $ 3,100 U $ 700 U Required: 1. For direct materials: a. Compute the actual cost per foot of materials for March. b. Compute the price variance and the spending variance. 2. For direct labor: a. Compute the standard direct labor rate per hour. b. Compute the standard hours allowed for the month's production. c. Compute the standard hours allowed per unit of product. Req 1A Req 1B Reg 2 For direct materials, compute the actual cost Actual cost per foot Reg 1A Req 1B Reg 2 For direct materials, compute the price variance a the effect of each variance by selecting "F" for fav Input all amounts as positive values.) Price variance Spending variance Reg 1A Req 1B Reg 2 2a. For direct labor, compute the standard direct labor rate per h 2b. For direct labor, compute the standard hours allowed for the 2c. For direct labor, compute the standard hours allowed per unit 2a. Standard direct labor rate per hour 2b. Standard hours allowed for the month's production 2c. Standard hours allowed per unit of productStep by Step Solution
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