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

Sharp Company manufactures a product for which the following standards have been set Standard Quantity of Hours Standard Cost Standard Price or Rate Direct materials Direct labor 4 feet $4.5 Per foot $18.0 hours ? Per hour During March, the company purchased direct materials at a cost of $59,220, all of which were used in the production of 3,000 units of product. In addition, 5,150 hours of direct labor time were worked on the product during the month. The cost of this labor time was $38,625. The following variances have been computed for the month Direct materials quantity variance Total direct labor variance Direct labor efficiency variance $2,700 U $1,155 F $390 U Requirement 1: For direct materials (a) Compute the actual cost per foot for materials for March. (Round your answer to 2 decimal places. Omit the "$" sign in your response.) Actual cost per foot (b) Compute the materials price variance and a total variance for materials. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Omit the "$" sign in your response.) Materials price variance Total variance for materials (Click to select) (Click to select) +

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