Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below: Standard Price or Rate Standard Cost Standard Quantity or Hours ? ? $ $ ? Direct materials Direct labor 6.00 per yard ? per direct labor 2 hour Variable manufacturing overhead ? $ ? Total standard cost per unit $ ? Overhead is applied to production on the basis of direct labor-hours. During March, 520 backpacks were manufactured and sold. Selected information relating to the month's production is given below: Variable Materials Direct Labor Manufacturing Used Overhead $15,600 $ 7,280 $ 1,456 $14,325 ? $ 1.717 ? $1,590 U 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 ? ? *For the month's production. The following additional information is available for March's production: 780 Actual direct labor-hours Difference between standard and actual cost per backpack produced during March $0.20F Please fill in the blanks based on information above. Round your answers to the 2 decimal places. a. How many yards of material are required at standard per backpack? answer: 1 yards per backpack. b. What was the materials price variance for March if there were no beginning or ending inventories of materials? Is it favorable or unfavorable? answer: $ , it is c. What is the standard direct labor rate per hour? answer: per hour. d. What was the labor rate variance for March? Is it favorable or unfavorable? answer: $ , it is e. What was the labor efficiency variance for March? Is it favorable or unfavorable? answer: $ , it is f. What was the variable overhead rate variance for March? Is it favorable or unfavorable? answer: $ , it is g. What was the variable overhead efficiency variance for March? Is it favorable or unfavorable? answer: $ , it is