to.mheduc atio gnment-7 (Cp Standard Costs & Variance Sharp Company manufactures a product for which the following standards have been set: Standard Quantity Standard Price Standard or Hours or Rate Cost Direct materials 3 metres $10.00 per metre $30.00 Direct labour hours per hour During March, the company purchased direct materials at a cost of$48,180, all of which were used in the production of 1,710 units of product. In addition, 2,736 hours of direct labour time was worked on the product during the month. The cost of this labour time was $20,520, The following variances have been computed for the month: Materials quantity variance $5,600 U Total labour variance 2,150 Labour efficiency variance 150 U Required For direct a. Compute the actual cost per metre for materials for March. Do not round intermediate calculations. Round your answer to 2 decimal places.) Actual cost per metre b. Compute the materials price variance and a total variance for materials. indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None for no effect (i.e., zero variance). Do not round intermediate calculations and final answers to the nearest dollar amount.) Price variance Total variance Accounting que Chegg.com