Highland company produces a light weight backpack that is popular with college students. Standard variable cost relatinf to a single backpack are given below:

Overhead is applied to production on the basis of direct labor-hours. During March, 400 backpacks were manufactured and sold. Selected information relating to the month's production is given below The following additional information is avaliable for March's production: Required: (Hint: it may be helpful to complete a general model diagtam for direct materials, direct laboc, 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 inventones of materials? 5. Wisat is the standard direct iabor rate per hour? 6. What was the labor rate variance for March? The labor efriciency varlance? 7. What was the variable overhead rote variance for March? The yariable owerhend eficiency variance? 8. Prepare a standard cost eard for one backpack