Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below: Standard QuantityStandard Price Standard Cost or Rate $3.00 per yard or Hours Direct materials Direct labor Variable manufacturing overhead $2 per direct labor-hour Total standard cost Overhead is applied to production on the basis of direct labor-hours. During March, 570 backpacks were manufactured and sold. Selected information relating to the month's production is given below: Variable Manufacturing Overhead $1,596 $1,716 Materials Used Direct Labor $6,384 $8,550 $5,900 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 $ 300 U For the month's production. The following additional information is available for March's production: Actual direct labor-hours Standard overhead rate per direct labor-hour Difference between standard and actual cost per backpack produced during March 1,000 $2.00 $0.20 F