Sharp Company manufactures a product for which the following standards have been set Standard Quantity or Hours 3 feet 7 hours Standard Price or late 55 per foot > per hour standard Cost $15 Direct materials Direct labor 2 During March, the company purchased direct materials at a cost of $44,100, 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 $40,800 The following variances have been computed for the month, Materials quantity variance Labor spending variante Labor efficiency variance $1,500 $ 3.2000 $ 1000 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 tate per hout. b. Compute the standard hours allowed for the month's production Compute the standard hours allowed per unit of product Complete this question by entering your answers in the tabs below. 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 IA Reg 13 Reg 2 For direct materials, compute the actual cost per foot of materials for March (Round your answer to 2 decimal places) Actual $ 2.08 por fool Reg 18 > 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 hours 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 1A Reg 13 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, "Us for unfavorable, and "None" for no effect (lie., zero variance) Input all amounts as positive values.) Price Varance Spending vanance 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 1A Reg 1B Reg 2 20. For direct labor, compute the standard direct labor rate per hour (Round your answer to the nearest whole dollar) 2b. For direct labor, compute the standard hours allowed for the month's production. (Do not round your intermediate value) 2c. For direct labor, compute the standard hours allowed per unit of product. (Round your answer to 1 decimal place.) 2a Standard direct labor rate per hour 26 Standard hours allowed for the month's production 20 Standard hours allowed per unit of product
