Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Sharp Company manufactures a product with the following standards: During March, the company purchased direct materials for $ 5 9 , 0 4 0 ,
Sharp Company manufactures a product with the following standards:
During March, the company purchased direct materials for $ all of which were used in the production of units. 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:
Required A
a Compute the actual cost per foot of materials for March. Note: Round your answer to decimal places.
Required B
b For direct materials, Compute the price variance and spending variance. Note: 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.
Required :
aFor direct labor, Compute the standard direct labor rate per hour. Note: Round your answer to the nearest whole dollar.
b For direct labor, Compute the standard hours allowed for the month's production. Note: Do not round your intermediate value.
cFor direct labor, Compute the standard hours allowed per unit of product. Note: Round your answer to decimal place.
If this problem becomes confusing, please try to refer to the screenshot, even though I am unable to upload multiple photos on one question. Thank you so much! If correct, I will percent give a thumbs up :
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started