Please help me with this question. I've started it but am stumped on the others. 
Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below: Direct materials Direct labor Variable manufacturing overhead Total standard cost Standard Quantity or Standard Price Hours or Rate ? $7.5 per yard ? ? ? $3.6 per direct labor-hour Standard Cost $? ? ? $? 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: Total standard cost allowed* Actual costs incurred Direct materials price variance Direct materials quantity variance Direct labor rate variance Direct labor efficiency variance Variable overhead rate variance Variable overhead efficiency variance Materials Used $22,500 $21,942 ? $1,350 U Direct Labor $16,600 ? Variable Manufacturing Overhead $7,200 $6,600 ? ? ? *For the month's production. The following additional information is available for March's production: Actual direct labor-hours Standard overhead rate per direct labor-hour Standard price of one yard of materials Difference between standard and actual cost per backpack produced during March 2,200 $3.6 $7.5 $.95 F Requirement 1: What is the standard cost of a single backpack? (Round your answer to 2 decimal places. Omit the "$" sign in your response.) Standard cost $ Requirement 2: What was the actual cost per backpack produced during March? (Round your answer to 2 decimal places. Omit the "$" sign in your response.) Actual cost $ Requirement 3: How many yards of material are required at standard per backpack? (Round your answer to 2 decimal places.) Material yards per backpack Requirement 4: What was the direct materials price variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Omit the "$" sign in your response.) Price variance $ Requirement 5: What is the standard direct labor rate per hour? (Round your answer to 2 decimal places. Omit the "$" sign in your response.) Standard rate $ per DLH Requirement 6: What was the direct labor rate variance for March? The direct labor efficiency variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Omit the "$" sign in your response.) Labor rate variance Labor efficiency variance $ $ Requirement 7: What was the variable overhead rate variance for March? The variable overhead efficiency variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Omit the "$" sign in your response.) Rate variance Efficiency variance $ $ Requirement 8: Prepare a standard cost card for one backpack. (Round your answers to 2 decimal places. Omit the "$" sign in your response.) Direct materials Direct labor Variable manufacturing overhead Total standard cost Standard Quantity or Hours yards hours Standard Price or Rate 7.5 per yard $ per hour hours 3.6 per hour ask your instructor a questioncheck my workeBook Links (4)references Standard Cost $ $
