Help Save & Exit Sub Saved Check my work Problem 10-11 Direct Materials and Direct Labor Variances; Computations from Incomplete Data LO10-1, L010-2] Sharp Company manufactures a product for which the following standards have been set Standard Quantity or Hours 3 feet ? hours Standard Price or Rate Standard Cost $5 per foot 15 Direct materials Direct labor ? per hoyr 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 was $47,500. The following variances have been computed for the month: were worked on the product during the month. The cost of this labor time Materials quantity variance Labor spending variance Labor efficiency variance $1,200 u $3,400 U 900 U Required: 1. For direct materials: a. Compute the actual cost per foot of materials for March. 600 PM 7/31/2018 ???-1 ere to search