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 or Hours Standard Price or Rate Standard Cost Direct materials Direct labor $3.00 per yard per direct $2 labor-hour Variable manufacturing overhead Total standard cost per unit 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 Materials Used $ 8,550 $5,900 Direct Manufacturing Labor $6,384 Overhead $1,596 $1,716 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 $ 3000U For the month's production The following additional information is available for March's production