any help would be greatly appreciated.
Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a backpack are given below. Standard Quantity OF Hours Direct materials Standard Price or Rate Standard Cost Direct labor $ 6. per yard SP Veriable manufacturing overhead $ 2 per direct Labor-hour Total standard cost per unit Overhead is applied to production on the bas's of direct labor-hours. During March, 400 backpacks were manufactured and sold. Selected information relating to the month's production is given below. Direct Variable Fan.factorIng Materials Used Labor Total standard cost allowed Actual costs Incurred 1 9, 520 Materials price variance Materials quantity variance $ 1, 928 0 Labor rate variance Labor afficleary variance Variable overhead rate variance Variable overhead efficiency varianes "For the month's production The following additional information is available for March's production: Actual direct labor-hours Difference letmem standard and actual cost per backpack produced during March Required: Hint It may be helpful to complete a general model diagram for direct materials, direct labor, and variable manufacturing overhead before attempting to answer any of the requirements. 1 What is the standard cost of a single backpack? 2. What was the actual cost per backpack produced during March? 3. How many yards of material are required at standard per backpack? 4 What was the materials price variance for March if there were no beginning or ending inventories of materials? 5. What is the standard direct labor rate per hour? 5. What was the Isbor rate variance for March? The labor efficiency variance? 7. What was the variable overhead rate variance for March" The variable overhead efficiency variance? B. Prepare a standard cost card for one backpack Complete this question by entering your answers in the tabs below