Do not give image format Sharp Company manufactures a product for which the following standards have been set.Standard Quantity orHours3 feet2 hoursDirect materialsDirect laborDuring March, the company purchased direct materials at a cost of $64,440, all of which were used in the production of 3,500 units ofproduct. In addition, 5,000 direct labor-hours were worked on the product during the month. The cost of this labor time was $47.500The following variances have been computed for the month:Materials quantity varianceLabor spending varianceLabor efficiency varianceStandard Price or Fate Standard Cost$5 per foot$152 per hourRequired:1. For direct materials:a. Compute the actual cost per foot of materials for Marchb. Compute the price variance and the spending variance.2. For direct labora Compute the standard direct labor rate per hourb. Compute the standard hours allowed for the month's production.c. Compute the standard hours allowed per unit of productReq 1A$1,200 U$3,400 U$. 900 UComplete this question by entering your answers in the tabs below.Req 18Reg 2For direct materials, compute the actual cost per foot of materials for March. (Round your answer to 2 decimal places.)Actual costper footReq 18 >

Name: Do not give image format Sharp Company manufactures a product for whic
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Do not give image format Sharp Company manufactures a product for which the following standards have been set.Standard Quantity orHours3 feet2 hoursDirect materialsDirect laborDuring March, the company purchased direct materials at a cost of $64,440,