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 or Hours or Rate Cost Direct saterials 56.00 per yard 52 Direct labor per direct labor Verteble manufacturing overhead hour Total standard cost per unit ? Overhead is applied to production on the basis of direct labor hours During March, 800 backpacks were manufactured and sold Selected information relating to the months production is given below. Materials Used $ 19,200 $11,100 Direct Labor 59.200 Variable Manufacturing Overhead 51,000 5 3.000 Total standard cost allowed actual costs incurred Materials price variance aterials quantity variance Labor rate variance Labor efficiency variance Variable ouerhead rate variance Variable overhead officiency variance Variable overhead rate variance Variable overhead efficiency variance *For the month's production The following additional information is available for March's production, Actual direct labor-hours Difference between standard and actual cost per backpack produced during March 1,200 $ 0.15 F 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? 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 variance? 7. What was the variable overhead tate vanance for March? The variable overhead efficiency variance? 8. Prepare a standard cost card for one backpack SE VUOI IU WILL HELT VIRUCHI 5. What is the standard direct labor rate per hour? 6 What was the labor rate variance for March? The labor efficiency variance? 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 Required Required 5 Required 6 Required 7 Required B What is the standard cost of a single backpack? (Round your answer to 2 decimal places.) Standard cost of a single backpack Required 2 > - MULTIMILIFU WILL HULT UYUCUEIL 5. What is the standard direct labor rate per hour? 6. What was the labor rate variance for March? The labor efficiency variance? 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 Required 6 Required 7 Required 8 What was the actual cost per backpack produced during March? (Round your answer to 2 decimal places.) Actual cost per backpack *** VUELL ULICURICI VULT VIL ILIRILOVITUS 5. What is the standard direct labor rate per hour? 6. What was the labor rate variance for March? The labor efficiency variance? 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 Required 4 Required 5 Required 6 Required 7 Required 8 How many yards of material are required at standard per backpack? (Round your answer to 1 decimal place.) Number of yards per backpack WIL UILCIUM TUURLICH VILL HymyHIVCIRCUIT 5. What is the standard direct labor rate per hour? 6. What was the labor rate variance for March? The labor efficiency variance? 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 Required 6 Required 2 Required 8 what was the materials price variance for March if there were no beginning or ending inventories of materials? (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e. zero variance). Input all amounts as positive values.) Material price variance ***ULUS II YOU CLIC WU WYTY MY HUIS 5. What is the standard direct labor rate per hour? 6. What was the labor rate variance for March? The labor efficiency variance? 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 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required B What was the labor rate variance for March? The labor efficiency variance? (Do not round your intermediate calculations. Indicate the effect of each variance by selecting " for favorable. "U" for unfavorable, and "None" for no effect (le, zero variance). Input all amounts as positive values.) Labor rate variance Labor officiency variance WOL MUSIC MUSIC WORLUL MIL MILIL WIL HULY CHIRUHILUIS. 5. What is the standard direct labor rate per hour? 6. What was the labor rate variance for March? The labor efficiency variance? 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 5 Required 6 Required 7 Required 8 What was the variable overhead rate variance for March? The variable overhead efficiency variance? (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None for no effect (le, zero variance), Input all amounts as positive values.) Variable Overhead rate variance Variable overhead efficiency variance *FUL YUCULLUIS MICE TILL UTILICERILL WEIL ICY LYRILM. 5. What is the standard direct labor rate per hour? 6. What was the labor rate variance for March? The labor efficiency variance? 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 8 Required 4 Required 5 Required 6 Required 7 Prepare a standard cost card for one backpack (Round your answers to 2 decimal places.) Standard Quantity or Standard Standard Price or Rate Hours Cost Direct materials $ yards Direct labor hours per hour $ Variable manufacturing overhead hours 2.00 per direct labor hour Total standard cost 600 per yard - MULTIMILIFU WILL HULT UYUCUEIL 5. What is the standard direct labor rate per hour? 6. What was the labor rate variance for March? The labor efficiency variance? 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 Required 6 Required 7 Required 8 What was the actual cost per backpack produced during March? (Round your answer to 2 decimal places.) Actual cost per backpack *** VUELL ULICURICI VULT VIL ILIRILOVITUS 5. What is the standard direct labor rate per hour? 6. What was the labor rate variance for March? The labor efficiency variance? 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 Required 4 Required 5 Required 6 Required 7 Required 8 How many yards of material are required at standard per backpack? (Round your answer to 1 decimal place.) Number of yards per backpack WIL UILCIUM TUURLICH VILL HymyHIVCIRCUIT 5. What is the standard direct labor rate per hour? 6. What was the labor rate variance for March? The labor efficiency variance? 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 Required 6 Required 2 Required 8 what was the materials price variance for March if there were no beginning or ending inventories of materials? (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e. zero variance). Input all amounts as positive values.) Material price variance ***ULUS II YOU CLIC WU WYTY MY HUIS 5. What is the standard direct labor rate per hour? 6. What was the labor rate variance for March? The labor efficiency variance? 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 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required B What was the labor rate variance for March? The labor efficiency variance? (Do not round your intermediate calculations. Indicate the effect of each variance by selecting " for favorable. "U" for unfavorable, and "None" for no effect (le, zero variance). Input all amounts as positive values.) Labor rate variance Labor officiency variance WOL MUSIC MUSIC WORLUL MIL MILIL WIL HULY CHIRUHILUIS. 5. What is the standard direct labor rate per hour? 6. What was the labor rate variance for March? The labor efficiency variance? 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 5 Required 6 Required 7 Required 8 What was the variable overhead rate variance for March? The variable overhead efficiency variance? (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None for no effect (le, zero variance), Input all amounts as positive values.) Variable Overhead rate variance Variable overhead efficiency variance *FUL YUCULLUIS MICE TILL UTILICERILL WEIL ICY LYRILM. 5. What is the standard direct labor rate per hour? 6. What was the labor rate variance for March? The labor efficiency variance? 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 8 Required 4 Required 5 Required 6 Required 7 Prepare a standard cost card for one backpack (Round your answers to 2 decimal places.) Standard Quantity or Standard Standard Price or Rate Hours Cost Direct materials $ yards Direct labor hours per hour $ Variable manufacturing overhead hours 2.00 per direct labor hour Total standard cost 600 per yard