Sharp Company manufactures a product for which the following standards have been set: 3.75 points Direct materials Direct labor Standard Quantity Standard Price Standard or Hours or Rate Cost 3 feet $5 per foot $ 15 ? hours ? per hour ? Skipped 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: eBook Print References 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. Check my work 4 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. 3.75 points Skipped 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. eBook Complete this question by entering your answers in the tabs below. Print References Req 1A Req 1B Reg 2 For direct materials, compute the actual cost per foot of materials for March. (Round your answer 2 decimal places.) Actual cost per foot 4 Req 1A Req 1B Reg 2 3.75 points 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.) Skipped Price variance Spending variance OSCH eBook Print Screen Show References 4 Req 1A Req 1B Req 2 3.75 points 2a. 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 calculations. Round your final answer to the nearest whole number.) 2c. For direct labor, compute the standard hours allowed per unit of product. (Round your answer to 1 decimal place.) Show less A Skipped eBook Print 2a. Standard direct labor rate per hour 2b. Standard hours allowed for the month's production 2c. Standard hours allowed per unit of product References