10 Check my work Problem 10-11 Direct Materials and Direct Labor Variances; Computations from Incomplete Data LO10-1, LO10-2 Sharp Company manufactures a product for which the following standards have been set Standard Standard Quantity or Hours 3 feet ? hours Standar Price or Rate Cost nt $5 per foot $15 Direct materials Direct labor ? per hour During March, the company purchased direct materials at a cost of $64,440, all of which were used in the production of 3,500 units of product. In addition, 5,000 direct labor-hours were worked on the product during the month. The cost of this labor time was $47,500. The following variances have been computed for the month: Materials quantity variance Labor spending variance Labor efficiency variance $1,200 u 3,400 U $ 900 U Required: Prev 20, 61ll Next > Type here to search A P Home Paon