Sharp Company manufactures a product for which the following standards have been set:

Standard Quantity

or Hours Standard Price

or Rate Standard

Cost

Direct materials 3 feet $ 5 per foot $ 15

Direct labor ? hours ? per hour ?

During March, the company purchased direct materials at a cost of $53,730, all of which were used in the production of 2,875 units of product. In addition, 4,700 direct labor-hours were worked on the product during the month. The cost of this labor time was $37,600. The following variances have been computed for the month:

Materials quantity variance $ 1,650 U

Labor spending variance $ 3,100

U

Labor efficiency variance $ 750

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 months production.

c. Compute the standard hours allowed per unit of product.

Help Save&Exit Sharp Company manufactures a product for which the following standards have been set 24 Standard Quantity Standard Price s Direct materials Direct labor or Boursor RateCost 3 feet ? hours $5 per foot$ 15 ? per hour 0135:48 During March, the company purchased dire product. In addition, 4,700 direct labor-hours The following variances have been computed for the month: 0, all of which were used in the production of 2,875 units of were worked on the product during the month. The cost of this labor time was $37600. Materials quantity variance Labor spending variance Labor efficiency variance 1,650 U 3,100 U 750 U Required 1. For direct materials: a. Compute the actual cost per foot of materians 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. romnleto thie nuestion hu ontarinn unur anewiare in tha tshe hainu Next> Prev 24 of 29111