Sharp Company manufactures a product for which the following standards have been set Direct materials Direct labor Standard Quantity or Hours 3 feet ? hours Standard Price or Rate $5 per foot 7 per hour Standard Cost $ 15 During March, the company purchased direct materials at a cost of $56,610, all of which were used in the production of 2,875 units of product. In addition, 4.700 direct labor-hours were worked on the product during the month. The cost of this labor time was $37,600. The following vartances have been computed for the month; Materials quantity variance Labor spending variance Labor efficiency variance $ 4,058 u $ 2,188 u $ 770 U Required: 1. For direct materials: a Compute the actual cost per foot of materials for March b. Compute the price variance and the spending vartance 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 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. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Req 2 2a. For direct labor, compute the standard direct labor rate per hour. (Round your answer to the nearest whole dolla 2b. For direct labor, compute the standard hours allowed for the month's production. (Do not round your intermedia 2c. For direct labor, compute the standard hours allowed per unit of product. (Round your answer to 1 decimal place Shc S 7 X 2a. . Standard direct labor rate per hour Standard hours allowed for the month's production Standard hours allowed per unit of product 4,500 X . 8.8 X