Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Quantity or Hours ? ? ? Standard Price or Rate $ 6.00 per yard ? $ 2 per direct labor-hour Standard Cost $ ? ? ? $ ? Overhead is applied to production on the basis of direct labor-hours. During March, 520 backpacks were manufactured and sold. Selected information relating to the month's production is given below: Materials Used $ 15,600 $ 14,325 ? $ 1,590 U Direct Labor $ 7,280 ? Variable Manufacturing Overhead $ 1,456 $ 1,717 Total standard cost allowed* Actual costs incurred Materials price variance Materials quantity variance Labor rate variance Labor efficiency variance Variable overhead rate variance Variable overhead efficiency variance ? 2 ? 2 *For the month's production. The following additional information is available for March's production: 780 Actual direct labor-hours Difference between standard and actual cost per backpack produced during March $ 0.20 F 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