Dd.3. Sharp Company manufactures a product for which the following standards have been setStandard Quantity Standard Price oror HoursStandardCost$153 feet7 hoursDirect materialsDirect laborDuring March, the company purchased direct materials at a cost of $52,965, all of which were used in the production of 2,920 units ofproduct. In addition, 4,500 direct labor-hours were worked on the product during the month. The cost of this labor time was $31,500.The following variances have been computed for the month:Materiale quantity varianceLabor spending varianceLabor efficiency varianceRequired:1. For direct materials:a. Compute the actual cost per foot of materials for March.b. Compute the price variance and the spending variance.Rate$5 per foot7 per hour2. For direct labora. Compute the standard direct labor rate per hour.b. Compute the standard hours allowed for the month's production.c. Compute the standard hours allowed per unit of product.Reg 1AComplete this question by entering your answers in the tabs below.$ 4,350 U$ 3,030 0$ 780 UReq 18Price varianceSpending varianceReg 2For direct materials, compute the price variance and the spending variance. (Do not round intermediate calculations. Indicatethe effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (ie, zero variance).Input all amounts as positive values.)

Name: Dd.3. Sharp Company manufactures a product for which the following sta
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Dd.3. Sharp Company manufactures a product for which the following standards have been setStandard Quantity Standard Price oror HoursStandardCost$153 feet7 hoursDirect materialsDirect laborDuring March, the company purchased direct materials at a cos