Sharp Company manufactures a product for which the following standards have been set: During March, the company purchased direct materials at a cost of $64,440, all of which were used in the prodyction of 3,500 units of product. In addition, 5,000 direct labor-hours were worked on the pioduct during the month. The cost of this labor time was $47,500. The following varlances have been computed for the month: MaterialsquantityvarianceLaborspendingvarianceLaborefficiencyvariance$1,200U$3,400U$900U Required: 1. For direct materlals: a. Compute the actual cost per foot of materlals for March. b. Compute the price varlance 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. For direct materials, compute the actual cost per foot of materials for March. Note: Round your answer to 2 decimal places