Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating toa single backpack are given below: Standard Qtity Standard Price Standard or Hours or Rate Cost $6 per yard Direct materials Direct labor Variable manufacturing overhead ?$3 per direct labor-hour? Total standard cost per unit Overhead is applied to production on the basis of direct labor-hours. During March, 1,000 backpacks were manufactured and sold. Selected information relating to the month's production is given below