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 $53,730, all of which were used in the production of 2,875 units of product. In addition, 4,700 direct labor-hours were worked on the product during the month. The cost of this labor time was $37,600. The following variances have been computed for the month:

Materials quantity variance	$	1,650	U
Labor spending variance	$	3,100	U
Labor efficiency variance	$	750	U

Required:

1. For direct materials:

a. Compute the actual cost per foot of materials for March.

b. Compute the price variance 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 months production.

c. Compute the standard hours allowed per unit of product.

For direct materials, compute the actual cost per foot of materials for March. (Round your answer to 2 decimal places.)

Actual cost

per foot

For direct materials, compute the price variance and the spending variance. (Do not round intermediate calculations. 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.)

Price variance
Spending variance

2a. For direct labor, compute the standard direct labor rate per hour. (Round your answer to the nearest whole dollar.)

2b. For direct labor, compute the standard hours allowed for the months production. (Do not round your intermediate value.)

2c. For direct labor, compute the standard hours allowed per unit of product. (Round your answer to 1 decimal place.)

2a.	Standard direct labor rate per hour
2b.	Standard hours allowed for the months production
2c.	Standard hours allowed per unit of product

Problem 10-11 (Algo) Direct Materials and Direct Labor Variances; Computations from Incomplete Data (LO10-1, LO10-21 Sharp Company manufactures a product for which the following standards have been set Standar Quantity Standard Price Standard or Hours itate Cost Direct materials 3 feet $5 per foot 115 Direct la 7 hours per hour During March, the company purchased direct materials at a cost of $53,730, all of which were used in the production of 2875 units of product. In addition, 4700 direct tabochours were worked on the product during the month. The cost of this labor time was $37,600 The following variances have been computed for the month Materiais quantity wariance Labpe spending varice tabir efficiency variance $1,650 $ 3,10 750 Required: For direct materials a Compute the actual cost per foot of materials for March ts. Compute the price variance 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 Comure the standard hours allowed per unit of product. 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. Reg 1A Reg 18 Reg 2 For direct materials, compute the price variance and the spending variance. Do not found intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None for no effect ( e.. zero varianco). Input all amounts as positive values.) Price variance Spending variance 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. Reg 1A Req 18 Reg 2 2a. For direct labor, compute the standard direct labor rate per hour (Round your answer to the nearest whole dollar) 26. For direct labor, compute the standard hours allowed for the month's production. (Do not round your intermediate value 2c. For direct labor, compute the standard hours allowed por unit of product. (Round your answer to 1 decimal place.) 2a Standard direct labor rate per hour 26 Standard hours a lowed for the month's production 2c Standard hours allowed per unit of product 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. Reg 1A Req 18 Reg 2 2a. For direct labor, compute the standard direct labor rate per hour (Round your answer to the nearest whole dollar) 26. For direct labor, compute the standard hours allowed for the month's production. (Do not round your intermediate value 2c. For direct labor, compute the standard hours allowed por unit of product. (Round your answer to 1 decimal place.) 2a Standard direct labor rate per hour 26 Standard hours a lowed for the month's production 2c Standard hours allowed per unit of product