Check my worl 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 or Rate $11 per foot 7 per hour Standard Cost $33 During March, the company purchased direct materials at a cost of $111,300, all of which were used in the production of 3,200 units of product. In addition, 4.900 direct labor-hours were worked on the product during the month The cost of this labor time was $95,550 The following variances have been computed for the month: Materials quantity variance Labor spending variance Labor efficiency variance $ 4,400 V 450 F $ 2,0000 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 h omruite the standard honetwerk for the month notinn 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. es Req 1A Reg 18 Reg 2 For direct materials, compute the price variance and the spending variance. (Do not round Intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable and "None" for no effect (I.e., zero variance). Input all amounts as positive values.) U Price variance Spending variance V MEU Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Reg 2 For direct materials, compute the actual cost per foot of materials for March. (Round your answer to 2 decimal place Actual cost per foot Req 1B > Complete this question by entering your answers in the tabs below. Req 1A Req 1B Reg 2 2a. For direct labor, compute the standard direct labor rate per hour. 2b. For direct labor, compute the standard hours allowed for the month's production. 2c. For direct labor, compute the standard hours allowed per unit of product. (Round your answer to 1 decimal places Show less 2a Standard direct labor rate per hour 26 Standard hours allowed for the month's production 2c Standard hours allowed per unit of product