Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below: Standard Quantity Standard Price Standard Cost 7 or Hours 7 7 7 or Rate Direct materials Direct labor Variable manufacturing overhead $5.40 per yard 7 $2 per direct labor-hour Total standard cost Overhead is applied to production on the basis of direct labor-hours. During March, 810 backpacks were manufactured and sold. Selected information relating to the month's production is given below: Variable Manufacturing Overhead $2,592 $3,679 Materials Used $17,496 $14,784 Direct Labor $17,496 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 $648 U For the month's production