Sharp Company manufactures a product for which the following standards have been set: Standard Quantity Standard Price or or Hours Standard Cost $ 15 3 feet ? ? Direct materials Direct labor Materials quantity variance Labor spending variance Labor efficiency variance hours During March, the company purchased direct materials at a cost of $52,305, all of which were used in the production of 3,000 units of product. In addition, 4,600 direct labor-hours were worked on the product during the month. The cost of this labor time was $43,700. The following variances have been computed for the month: Required: 1. For direct materials: Rate $5 per foot ? per hour $ 2,550 U $ 3,200 U $ 900 U 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. X Answer is complete hu

Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. For direct materials, compute the actual cost per foot of materials for March. (Round your answer to 2 decimal places.) Sharp Company manufactures a product for which the following standards have been set: During March, the company purchased direct materials at a cost of $52,305, all of which were used in the production of 3,000 units of product. In addition, 4,600 direct labor-hours were worked on the product during the month. The cost of this labor time was $43,700. The following variances have been computed for the month: Required: 1. For direct materials: d. 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. Complete this question by entering your answers in the tabs below. 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 month's 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) Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. 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.)