Sharp Company manufactures a product for which the following standards have been set During March, the company purchased direct materials at a cost of $60120, 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 $53,900 The following variances have been computed for the month Required: 1 For direct materials a. Compute the actual cost per foot of matenals for March b. Compute the price variance and the spending variance 2. For direct labor: a. Compute the standard direct lator rate per hout. b. Compute the standard hours allowed for the month's production c. Compute the standard hours allowed per unit of pioduct Sharp Company manufactures a product for which the following standards have been set: During March, the company purchased direct materials at a cost of $60,120, 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 $53,900 The following variances have been computed for the month: Required: 1. For direct materials a. Compute the actual cost per foot of materials for March b. Compute the price vartance 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