Highland Company produces a lightweight backpack that is popular with college students Standard variable costs relating to a single backpack are given below. 3 Standard Quantity or hours Standard Price or Rate $8.00 per yard 2 2 per direct laber-hour Standard Cost $ Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit 52 och Overhead is applied to production on the basis of direct labor hours. During March, 610 backpacks were manufactured and sold. Selected information relating to the month's production is given below! Vale Puteriale anufacturing Used Direct Labor Total standard cost allowed $ 14,640 $10,065 $1,830 Actual casts incurred $ 14,145 Materiais price variance > Puterials cuantity variante $ 2,140 Labor rate variance berficiency variante Variable overhead rate variance Yarlale overhead efficiency variance "For the monti's production The following adomonal information is available for March's production 935 Actual director hours Difference between standard datul cost per backpack produced during are 10.101 Required: Mint may be helpful to complete a general modellogram for direct materiais direct labor, and variable manufacturing overhead before attempting to answer any of the requirements What is the standard cost of a single backpack? 2. What was the actual cost per backpack produced during March? How many yards of material are required at standard per backpack? What was the materias price variance for Marche were no beginning or ending inventories of entertais? 6. What was the labor rate variance for Marche' The labor cancy variance 7 What was the variable overhead to variance for Macht The variable overhead efficiency variance 2. Prepare a standard Cost car for one backpack Complete this question by entering vour answers in the tabe blow FA What is the standard cost of a single backpacklund to deal