Sharp Company manufactures a product for which the following standards have been set: Standard Standard Quantity or Hours Standard Price or Rate Cost Direct materials 3 metres $7 per metre $21 Direct labour ? hours ? per hour ? During March, the company purchased direct materials at a cost of $55,650, all of which were used in the production of 3,200 units of product. In addition, 4,900 hours of direct labour time were worked on the product during the month. The cost of this labour time was $36,750. The following variances have been computed for the month: Materials quantity variance $4,500 U Total labour variance 2,000 F Labour efficiency va 1,000 U Required: 1. For direct materials: a. Compute the actual cost per metre for materials for March. b. Compute the materials price variance and a total variance for materials. 2. For direct labour: a. Compute the standard direct labour rate per hour. b. Compute the standard hours allowed for the month's production. c. Compute the standard hours allowed per unit of product