Highland Company produces a lighweight bockpack that is popular with college students, standard variablo costs rectating to a single backpack are given below Overthead is applied to production on the basis of direct labor hours. During March. 520 backpocks were manufactured and sold Selected information relating to the month s production is given below: "For the months production The following additional intorrution is avaitatile for Marchs production Required: Required: Hint it may be belpful to complete a general model diagram for direct materials, direct labor, and vartable manufocturing overhead betore attempting to answer any of the requirements 1. What is the standaid cost of a single backpock? 2. What was the actual cost per backpack produced during March? 3. How mary yards of material are required at standard per backpack? 4. What was the materials price vartance for March if there were no be ginning or ending inventories of materials? 5 . What is the standard direct labor rate per hour? 6. What was the labor rate varance for Marcli? The labor efficiency variance? 7 What was the varlable overhead rate varlance for March? The varlable ovetheort efficiency variance? 8. Prepare a standard cost card for one backpack Required: Hint 11 may be helpful to complete a general model ciagram for direct materials, direct labor, ond variable manufacturing overhead before attempting to answer any of the requirements. 1. What is the standard cost of a single backpach 2. What was the actual cost per backpack produced during March? 3. How many yords 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 diect tabor rate per hour? 6. What was the labor rote variance for March? The labor efficiency variance? 7. What was the variable overhead tate variance for March? The variable overhead efficiency variance? 8. Prepare a standerd eost card for one backpack Prepare a standard cost card for one backpack. (Round your answers to 2 decimal places.)