Steve Company manufactures a product for which the following budget standards are in place:
The cells marked with question mark are unknowns but can be found from the given data.
		Budgeted quantity of input per unit of output			Budgeted price of input		Budgeted cost per unit of output
Direct materials		3	pounds		$5.00	per pound	$15.00
Direct labor		?	hours		?	per hour	?
During March, the company purchased direct materials for						$55,650
All the purchased direct materials were consumed in the production during March.
There was no beginning inventory of direct materials for the month of March.
The number of units of output produced during March						3,200
The number of direct labor hours consumed during March						4,900
The actual cost of direct labor hours consumed during March						$36,750
The following variances have been computed for the month of March:
Materials quantity variance				$4,500	Unfavorable
Total Direct Labor variance				$3,150	Unfavorable
Direct labor efficiency variance				$700	Unfavorable
Required:
Part A)	Compute the actual cost per pound of direct materials for the month of March
Part B)	Compute the DM price variance and the total direct materials variance for March
Part C)	Compute the budgeted direct labor wage rate for March
Part D)	Compute the budgeted hours of direct labor allowed for the output produced in March
Part E)	Compute the budgeted hours of direct labor allowed per unit of output in the master budget