Sharp Company manufactures a product for which the following standards have been set: Standard Q of Hrs Standard Price/Rate Standard Cost Direct materials 3 feet $5.00 foot (standard price or rate) $15 (standard cost) Direct labor ? hours ? /hour ? During March, the company purchased direct materials at a cost of $54,615, all of which were used in the production of 3,050 units of product. In addition, 5,000 hours of direct labor time were worked on the product during the month. The cost of this labor time was $30,000. The following variances have been computed for the month Direct materials quantity variance $3,900 U Total direct labor variance $5,600 U Direct labor efficiency variance $ 600 U Requirement 1: For direct materials: (a) Compute the actual cost per foot for materials for March. (Round your answer to 2 decimal places. Omit the "$" sign in your response.) Actual cost per foot $ (b) Compute the materials price variance and the spending variance. (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. Omit the "$" sign in your response.)

Price variance $ Spending Variance $ Requirement 2: For direct labor: (a) Compute the standard direct labor rate per hour. (Round your answer to 2 decimal places. Omit the "$" sign in your response.) Standard direct labor rate per hour $ (b) Compute the standard hours allowed for the month's production. (Round your answer to the nearest whole number.) Standard hours hours (c) Compute the standard hours allowed per unit of product. (Round your answer to 1 decimal place.) Standard hours hours