only 5,6,7&8 please 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 $6.00 per yard $ 2 per direct labor-hour Standard Cost $ ? Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Overhead is applied to production on the basis of direct labor-hours. During March, 760 backpacks were manufactured and sold. Selected information relating to the month's production is given below: Materials Used $ 18,240 $17, 125 Direct Labor $15,808 Variable Manufacturing Overhead $2,432 $4,345 $ 2,310 U Total standard cost allowed Actual costs incurred Materials price variance Materials quantity variance Labor rate variance Labor efficiency variance Variable overhead rato variance Variable overhead efficiency variance "For the month's production. The following additional information is available for March's production: ebook References 5. What is the standard direct labor rate per hour? 6. What was the labor rate variance for March? The labor efficiency variance? 7. What was the variable overhead rate variance for March? The variable overhead efficiency variance? 8. Prepare a standard cost card for one backpack. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 What is the standard direct labor rate per hour? (Round your answer to 2 decimal places.) Standard direct labor rate per hour $ 150 (Recured Required > Materials Used Direct Labor $15,808 $ 18, 240 $ 17, 125 $ 2,310 U 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 For the month's production. The following additional information is available for March's production: , 140 Actual direct labor-hours Difference between standard and actual cost per backpack produced during March $ 0.10 F Required: Hint: it may be helpful to complete a general model diagram for direct materials before attempting to answer any of the requirements