Required 1 Required 2 Prepare a flexible budget for March. (Input all amounts as positive values.) FAB Corporation Flexible Budget For the Month Ended March 31 Machine-hours Utilities Maintenance Supplies Indirect labor Depreciation Total Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a report showing the spending variances for March. (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.) FAB Corporation Spending Variances For the Month Ended March 31 Utilities Maintenance Supplies Indirect labor Depreciation Total Sharp Company manufactures a product for which the following standards have been set: Standard Quantity Standard Price or Hours or Rate 3 feet $5 per foot ? hours ? per hour Standard Cost $ 15 ? Direct materials Direct labor During March, the company purchased direct materials at a cost of $52,305, all of which were used in the production of 3,000 units of product. In addition, 4,600 direct labor-hours were worked on the product during the month. The cost of this labor time was $43,700. The following variances have been computed for the month: Materials quantity variance Labor spending variance Labor efficiency variance $ 2,550 U $ 3,200 U $ 900 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. Req 1A Req 1B Req 2 For direct materials, compute the actual cost per foot of materials for March. (Round your answer to 2 decimal places.) Actual cost per foot