Check my work 5 Sharp Company manufactures a product for which the following standards have been set Direct materials Direct labor Standard Quantity or Hours 3 feet hours Standard Price Standard or Rate Cost $5 per foot $ 15 > per hour 25 During March, the company purchased direct materials at a cost of 545,375, 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 $50,400 The following variances have been computed for the month Materials quantity variance Labor spending variance Labor officiency variance $2,250 $3,400 $ 1.000 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 (Me 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. Complete this question by entering your answers in the tabs below. Den Pon 1 Ron