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

During March, the company purchased direct materials at a cost of $$52,965,$ all of which were used in the production of $2,920$ units of

product. In addition, $4,500$ direct labor$-$hours were worked on the product during the month. The cost of this labor time was $$31,500.$

The following variances have been computed for the month:

Materials quantity variance

$$4,350U$

Labor spending variance

Labor efficiency variance

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 $1A$

Req $1$B

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.$)$