Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below:
3 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 Stand rd PriceStand Cost or Rate $6.00 per yard points Direct materials $ 7 Direct labor Variable manufacturing overhead Total standard cost per unit per direct 2 labor-hour eboskOverhead 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 riab Print Materiale Diect Manufacturin 960 2,620 Total standard oost alLoved Actual costs incurred Materialn price variance Materials quantity variance Labor rate varianee Labor effieleney varianee Variable overhead rate varlance Variable overhend effieseney varianee 9,120 $5,040 5,520 Reterences $ 1,920 For the month's production The following additional Information is available for March's production: 1 abor-houre Difference betveen standard and actual cost per 0.20 backpack produced daring Mareh Required: Hint: It may be helpful to complete a general model diagram for direct materials, direct labos, 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? Check my work 3 The following additional information is available for March's production: Actual direct labor-hours Difference between standard and actual cost per 600 backpack produced during March $ 0.20, points 8 023449 Required: Hint: It may be helpful to complete a general model diagram for direct materials, direct labor, and variable manufacturing overhead before attempting to answer any of the requirements 1. What is the standard cost of a single backpack? eflook 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 inventories of materials? 5. What is the standard direct labor rate per hour? 6. What was the labor rate variance for March? The labor efficiency varlance? 7. What was the variable overhead rate variance for March? The variable overhead efficiency variance? 8. Prepare a standard cost card for one backpack. Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 3 Required 4 Required S Required 6 Required 7 Required & What is the standard cost of a single backpack? (Round your answer to 2 decimal places.) Required 2> Check my work 3 The following additional information is available for March's production: Actual direct labor-hours Difference betveon standard and actual cont per 600 backpack produced during March poirts Required: Hint: It may be helpful to complete a general model diagram for direct materials, direct labor, and variable manufacturing overhead before attempting to answer any of the requirements 1. Whot is the standard cost of a single backpack? 2. What was the actual cost per backpack produced during March? eBook How many yards of material are required at standard per backpock? 4. What wes the materials price variance for March i thre e no begining or ending inventories of materiais? 5. What Is the standard direct labor rate per hour 6. What was the labor rate variance for March? The labor efficiency varlance? 7. What was the variable overhead rate variance for March? The variable overhead efficiency varlance? 8. Prepare a standard cost card for one backpack. Complete this question by entering your answers in the tabs below. Required 1 Required 2Required 3 Required 4 Required S Required 6 Required 7 Required 8 What was the actual cost per backpack produced during March? (Round your answer to 2 decimal places.) Required 1
