Hightind Company produces a lightweight backpack that is popular with college students. Standard variable costs retating to a single bockpick are given below. Overhead is applied to production on the basis of direct labor-hours. During March, 570 backpacks were manufactured and sold. Selected information relatirig to the month's production is given below. "For the monthis production. The following additional information is avaltable for March's production: For the month's production. The following additional information is available for March's production: Actual direct'labor-hours Difference between standard and actual coat per backpack sroduced daring March. 50.20= Required: Hint: It may be helpful to complete a general model diagram for direct materials, direct labor, and variable manuifacturing overheac before attempting to answer any of the requirements: 1. What is the standard cost of a single bockpack? 2. What was the actual cost per backpack produced during March? 3. How many yard's of materlal are required at standard per backpack? What was the materlals price variance for March if there were no beginning or ending inventories of materials? 5. What is the standard direct labor rate per hour? What was the labor rate varlance for March? The labor efficiency variance? 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. What is the standard cost of a single backpack? (Round your answer to. 2 decimal placers.)