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Sharp Company manufactures a product for which the following standards have been set: During March, the company purchased direct materials at a cost of $
Sharp Company manufactures a product for which the following standards have been set: During March, the company purchased direct materials at a cost of $ all of which were used in the production of units of product. In addition, direct laborhours were worked on the product during the month. The cost of this labor time was $ The following variances have been computed for the month: Required: For direct materials: a Compute the actual cost per foot of materials for March. b Compute the price variance and the spending variance. 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 Req 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 ie zero variance Input all amounts as positive values.
Sharp Company manufactures a product for which the following standards have been set:
During March, the company purchased direct materials at a cost of $ all of which were used in the production of units of
product. In addition, direct laborhours were worked on the product during the month. The cost of this labor time was $
The following variances have been computed for the month:
Required:
For direct materials:
a Compute the actual cost per foot of materials for March.
b Compute the price variance and the spending variance.
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
Req
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 ie zero
variance Input all amounts as positive values.
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