Sharp Company manufactures a product for which the following standards have been set: Direct materials Direct labor Standard Quantity or Hours Standard Price or Rate Standard Cost 3 feet $ 5 $ 15 ? hours ? per hour ? per foot During March, the company purchased direct materials at a cost of $45,180, all of which were used in the productie product. In addition, 4,700 direct labor-hours were worked on the product during the month. The cost of this labor The following variances have been computed for the month: Materials quantity variance Labor spending variance Labor efficiency variance $ 3,300 U $ 3,130 V $ 780 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 Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 For direct materials, compute the actual cost per foot of materials for March. (Round your answer to 2 decimal places.) Actual cost per foot Res Req 1B > 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. 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. Complete this question by entering your answers in the tabs below. ces Req 1A Reg 1B Reg? 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 value.) 2c. For direct labor, compute the standard hours allowed per unit of product. (Round your answer to 1 decimal place.) 2a. Standard direct labor rate per hour 2b. Standard hours allowed for the month's production 2c. Standard hours allowed per unit of product