Sharp Company manufactures a product for which the following standards have been set: Standard Quantity Standard wice Standard ones or Rate Cost Direct materials 1 feet 55 per foot Direct labor 7 hours 1 per hour During March, the company purchased direct materials at a cost of $54,285, 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 $44.100 The following variances have been computed for the month Materials quantity variance Labor spending variance Labor efficiency walance $1,250 $ 3,300 $ 8500 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 laborate per hout b. Compute the standard hours allowed for the month's production c. Compute the standard hours allowed per unit of product RIA Res 10 Rea 2 For direct materials, compute the actual cost per foot of material for March (Round your answer to 2 decimal places) Actual cost Iper foot Reg 1A Rea 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 for unfavorable, and one for no effect (zero variance). Input all amounts as positive values.) Price variance Spending variance Reg 1A F Reg 2 2a. For direct labor, compute the standard direct labor rate per hout (Round your answer to the eart whole dollar) 2b. For direct labor, compute the standard hours allowed for the month's production. (Do not round your intermediate Value 2. For direct labor, compute the standard hours allowed per unit of product. (Round your answer in 1 decimi place Za Standard direct labore per hour 26 Standard hours allowed for the month's production 2e Standard hours allowed per unit of product