Sharp Company manufactures a product for which the following standards have been set:

Standard Quantity or HoursStandard Price or RateStandard Cost

Direct materials3feet$ 5per foot$ 15

Direct labor?hours?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$ 1,350U

Labor spending variance$ 3,300U

Labor efficiency variance$ 850U

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.

Sharp Company manufactures a product for which the following standards have been set Standard Quantity or Hours Standard Price Rate Standart at Direct materials 3 feet 3 Befoot Direct labor S 15 hours 2 per hour During March, the company purchased direct materials at a cost of 554 285, all of which were used in the production of 3.200 unts of product. In addition, 4,900 direct labor hours were worked on the product during the month. The cost of this lobortime was $44.900 The following variances have been computed for the month Materials quantity variance $1,350 Labor spending variance $ 3,00 Labor efficiency variance $350 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 Compute the standard direct laborate per hout b. Compute the standard hours allowed for the month's production cCompute the standard houts allowed per unit of product Complete this question by entering your answers in the tabs below. Heq IA Res 10 Reg 2 For direct materials, compute the actual cost per foot of materials for March (reund vour answer to dedim Print 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 month's production c Compute the standard hours allowed per unit of product References Complete this question by entering your answers in the tabs below. Red LA Reg 1B Reg2 For direct materials, compute the actual cost per foot of materials for March (Round your answer to 2 decimal place) Adual cos per foot Reg 10 > bre Complete this question by entering your answers in the tabs below. Reg 1A Reg 16 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 26 Standard hours allowed for the month's production 2c. Standard hours allowed per unit of produd