Sharp Company manufactures a product for which the following standards have been set Direct materials Direct labor Standard Quantity or Hours feet ? hours Standard Price or Rate Standard Cost $5 per foot 7 per hour $15 During March, the company purchased direct materials at a cost of $64,440, all of which were used in the production of 3.500 units of product. In addition, 5,000 direct labor-hours were worked on the product during the month. The cost of this labor time was $47500 The following variances have been computed for the month Naterials quantity variance Labor spending variance Labor efficiency variance Required: 1 For direct materials $ 1,200 U $3,400 U $100 U a Compute the actual cost per foot of materials for March b. Compute the price vaance 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 LA Reg 18 For direct materials, compute the actual cost per foot of materials for March. (Round your answer to 2 decimal places.) Actual cost mpany manufactures a product for which the following standards have been set Direct materials Direct sbor Standard Quantity or Hours 3 feet Yours Standard Felce or hate Standard Cast 15 per foot per hour During March, the company purchased direct materials at a cost of $64,440, all of which were used in the production of 3.500 units of product. In addition, 5,000 direct labor-hours were worked on the product during the month. The cost of this labor time was $47500 The following variances have been computed for the month Materials quantity variance Labor spending variance Labor efficienty varlance Required: 1 For direct materials a. Compute the actual cost per foot of matenais for March b. Compute the price variance and the spending variance 2. For direct labor a Compute the standard direct labor rate per bour b. Compute the standard hours iliwed for the month's production c Compute the standard hours allowed per uns of product Complete this question by entering your answers in the tabs below. Red A R18 Rea 2 For direct matenals, compute the price vanance and the spending variance (Du not round intemadata calculations Indicate the effect of each vanance by selecting for favorable, "ar unfavorable, and "None" for no effect wa vanance), Input all amounts as positive values Poce vanance Spending variance Reg 1A Req7> Sharp Company manufactures a product for which the following standards have been Direct materials Direct labor Standard Quity 3 feet hours inantare price or ate and s $5 per foot yer tour During March, the company purchased direct materials at a cost of $64,440, all of which were used in the production of 2500 product. In addition, 5,000 direct labor-hours were worked on the product during the morth the cost of this labor me wa$47500 The following variances have been computed for the month Haterials quantity arlance Laber spending Later efficiency varlance Required: 1 For drect matenals 11,200 11,400 a. Compute the actual cost per foot of mate b. Compute the price variance and the 2. For direct labor for March a Compute the standard direct labor rate per hour b Compute the standard hours allo e Compute the standard Noes allowed for the month's production per unit of product Complete this question by entering your answers in the tabs below 24. For direct labes, simpute the standard duct labor rate per hour due to the 2b. For direct labor, compute the standard hours and for the month's production (to not value) c. For direct labor compute the standent hours allowed per est if product. Put your art 2 and direct labor sale per hose Standed hours alowed for the man's productio 2 and hours allowed pet unit of whole und your medal mal place) Show less Exer tas > Chuck my work