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Sharp Company manufactures a product with the following standards have been set: During March, the company purchased direct materials for $ 1 1 1 ,
Sharp Company manufactures a product with the following standards have been set: 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: 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.
Sharp Company manufactures a product with the following standards have been set:
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:
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.
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