Sharp Compory manufactures a product for which she following standards have been set: During March, the company purchased direct materials at a cost of $54,630, all of which were used in the production of 2.875 units of product In addition, 4,700 direct lobor hours were woi cd on the prodact duiling the month. The cost of this labor time was $47,000 The following variances have been computed for the month Required: 1. For direct materials a. Compute the actuol cost per foot of moterials for March. b. Compute the price variance and the spending variance. 2. For direct labor: a. Compuge the standard direct labor rate per hour b. Compute the standord 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. 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 $54,630, all of which were used in the production of 2 . product. In addition, 4,700 direct labor-hours were worked on the product during the month. The cost of this labor time was The foliowing 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 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. For direct materials, compute the price variance and the spending variance. (Do not round intermediate caiculations. 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.) Sharp Company manufactures a product for which the following standards have been set: During March, the company purchased direct materials at a cost of $54,630, all of which were used in the production of 2 product. In addition, 4,700 direct labor-hours were worked on the product during the month. The cost of this labor time w 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 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.)
