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Sharp Company manufactures a product for which the following standards have been set Standard Quantity Standard Price Standard or Hours or Rate Cost Direct materials 3 feet 511 per foot 533 Direct labor hours ? per hour 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 $ 450 $ 2,000 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 lobor: 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. Req 1A Reg 18 Reg 2 Materiais quantity variance Labor spending variance Labor efficiency variance > 4,400 U $ 450 F $ 2.000 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 Complete this question by entering your answers in the tabs below. Reg 1 Req 1B Req 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 place.) Show less 2a Standard direct labor rate per hour 2b Standard hours allowed for the month's production 20 Standard hours allowed per unit of product PC Materials quantity variance Labor spending variance Labor officiency variance $4,400 5 450F $ 2, U 25 ints Skipped 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 Doc 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 H Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 2 rences For direct materials, compute the actual cost per foot of materials for March. (Round your answer to 2 decimal places) Achat per foot Reg 18 )
