Sharp Company manufactures a product for which the following standards have been set: Direct materials Direct labor Standard Quantity Standard Price or or Hours 3 feet 7 hours Rate $5 per foot 7 per hour Standard Cost $ 15 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 efficiency variance Required: 1. For direct materials: $ 900 U $ 3,600 U $ 1,000 U a. Compute the actual cost per foot of materials for March. b. Compute the price variance and the spending variance