Highiand Company produces a lightweight bockpack thet is popular with college students, Standard variable cests relating to a single bockpock are olvet belaw: Overhead is mpplied to procucton on the basis of drect labor hours: Dung March, 600 bockpocks wore manufactured and sold Selected information telating to the menth's peoduction is given below: -For the monthis production. The folowing addrionol infocmation is avalable for March's production ketual direct aubor-boer berkpack preduced daring karoh Recuired: Hint. It may be hefpful to complete a goneral model diagram for drect materials, direct laboc and variable manulacturing ovechesd before attempting to arswer any of the requirements. 1. What is the standard cos of a single backpack? 2. What was the actual cost per backpack produced during March? 3. How many yards of mateeial are required at standard per backpack? 4. What was the materiais price warionce for March if there wore ne begining or ending inentories of materlab? 5. What is the standard direct labor rate per hour? 6. What wis the labor fate vartance for March? The laboc efficiency variance? 7. What was thie varable everteod rase variance for March? The variable overhead efliciency variance? 8. Prepare a standard cost card for one bsckpack. Complete this question by entering your answers in the tabs below. What is the standard cost of a sinqle backpack? (Round your answer to 2 decimal places.) What was the actual cost per backpack produced during March? (Round your answer to 2 decimal places.) How many yards of material are required at standard per backpack? (Round your answer to 1 decimal place.) Complete this question by entering your answers in the tabs below. What was the materials price variance for March if there were no beginning or ending inventories of materials? (Do not round intermedate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (Le, zero variance). Input all amounts as positive values.)