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Sharp Company manufactures a product for which the following standards have been set: During...

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Accounting

Sharp Company manufactures a product for which the following standards have been set:
During March, the company purchased direct materials at a cost of $53,730, 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 variances have been computed for the month:
Required:
For direct materials:
a. Compute the actual cost per foot of materials for March.
b. Compute the price variance and the spending variance.
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.
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