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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 Quantityof Hours Standard Priceor Rate Standard CostDuring March, the company purchased direct materials at a cost of $55,650, all of which were used in the production of 3,200 units of product. In addition, 4,900 hours of direct labor time were worked on the product during the month. The cost of this labor time was $36,750. The following variances have been computed for the month: Direct materials quantity variance $4,500 U Total direct labor variance $1,650 F Direct labor efficiency variance $800 U