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Sharp Company manufactures a product with the following standards: Standard Quantity or HoursStandard Price or RateStandard CostDirect materials 3 feet$ 5 per foot$ 1 5

Sharp Company manufactures a product with the following standards: Standard Quantity or HoursStandard Price or RateStandard CostDirect materials3feet$ 5per foot$ 15Direct labor?question markhours?question markper hour?question markDuring March, the company purchased direct materials for $55,650, all of which were used in the production of 3,200 units. In addition, 4,900 direct labor-hours were worked on the product during the month. The cost of this labor time was $36,750. The following variances have been computed for the month:Materials quantity variance$ 4,500ULabor spending variance$ 3,150ULabor efficiency variance$ 700URequired:For direct materials:Compute the actual cost per foot of materials for March.Compute the price variance and the spending variance.For direct labor:Compute the standard direct labor rate per hour.Compute the standard hours allowed for the months production.Compute the standard hours allowed per unit of product

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