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	?	$5.10 per yard	$ ?
Direct labor	?	?	?
Variable manufacturing overhead	?	$2 per direct labor-hour	?
Total standard cost			$?

Overhead is applied to production on the basis of direct labor-hours. During March, 720 backpacks were manufactured and sold. Selected information relating to the months production is given below:

	Materials Used	Direct Labor	Variable Manufacturing Overhead
Total standard cost allowed*	$14,688	$13,248	$2,304
Actual costs incurred	$12,218	?	$2,722
Materials price variance	?
Materials quantity variance	$ 510 U
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 Marchs production:

Actual direct labor-hours

1,260

Standard overhead rate per direct labor-hour

$2.00

Difference between standard and actual cost per backpack produced during March

$0.25

F

1.	What is the standard cost of a single backpack?

Standard cost for March production:
Materials	$20
Direct labor	18
Variable manufacturing overhead	3
Total standard cost	$41
Number of backpacks produced
Standard cost of a single backpack	0

2.

What was the actual cost per backpack produced during March? (Round your answers to 2 decimal places.)

Standard cost of a single backpack
Deduct difference between standard and actual cost
Actual cost per backpack	$0.00

3.

How many yards of material are required at standard per backpack?

Total standard cost of materials allowed during March
Number of backpacks produced during March
Standard materials cost per backpack
Standard materials cost per yard
Number of yards per backpack

4.

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 (i.e., zero variance).)

Materials price variance
Materials quantity variance
Spending variance	$0

Thank you