Sharp Company manufactures a product for which the following standards have been set: Standard Quantity or Hours foot ? hours Standard Price or Rate 55 per foot ? per hour Standard Cost $ 15 Direct materiale Direct labor During March, the company purchased direct materials at a cost of $52,965, all of which were used in the production of 2,920 units product. In addition, 4,500 direct labor-hours were worked on the product during the month. The cost of this labor time was $31,500 The following variances have been computed for the month: Materiale quantity variance Labor pending variance Labor ufficiency variance 4,350 U 3,030 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