Sharp Company manufactures a product for which the following standards have been set: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 3 feet $ 5 per foot $ 15 Direct labor ? 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 direct labor-hours were worked on the product during the month. The cost of this labor time was $36,750. The following variances have been computed for the month: Materials quantity variance $ 4,500 U Labor spending variance $ 3,150 U Labor efficiency variance $ 700 U Required: For direct materials: Compute the actual cost per foot of materials for March. Compute the price variance and the spending variance. For direct labor: Compute the standard direct labor rate per hour. Compute the standard hours allowed for the months production. Compute the standard hours allowed per unit of product.