Sharp company manufactures a product for which the following standards have been set: standard quantity or hours standard price or rate standard cost direct materials 3 feet $ 11 per foot $ 33 direct labor ? hours ? per hour ? during march, the company purchased direct materials at a cost of $111,300, all of which were used in the production of 3,200 units of product. in addition, 4,900 direct labor-hours were worked on the product during the month. the cost of this labor time was $95,550. the following variances have been computed for the month: materials quantity variance $ 4,400 u labor spending variance $ 450 f labor efficiency variance $ 2,000 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 variance. 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.