Sharp Company manufactures a product for which the following standards have been set: Direct materials Direct labor Standard Quantity on Hours 3 feet ? hours Standard Price Standard op Rate Cost $5 per foot $ 15 7 per hour 2 During March, the company purchased direct materials at a cost of $57,090, all of which were used in the production of 3.400 units of product. In addition, 5.200 direct labor hours were worked on the product during the month. The cost of this labor time was $54,600 The following variances have been computed for the month: Materials quantity variance Labor spending variance Labor officiency variance $ 500 V $), GANDU $1,000 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 hout b. Compute the standard hours allowed for the month's production c. Compute the standard hours allowed per unit of product Requirea: 1. For direct materials: a. Compute the actual cost per foot of materials for March b. Compute the price variance and the spending varlance. 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 Req 18 Req 2 For direct materials, compute the actual cost per foot of materials for March. (Round your answer to 2 decimal Actual cosi per foot TA Req 1B >