Schoolstaple Inc. manufactures waterproof laptop backpacks. The standard cost card of a single backpack is given below:

*For the month's production.

The following additional information is available for March's production:

Actual direct labor-hours795

Difference between standard and actual cost per backpack produced during March $0.20F

Required:

Hint:It may be helpful to have a general model diagram for direct materials, direct labor, and variable manufacturing overhead before attempting to answer any of the requirements.

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

2. What was the actual cost per backpack produced during March?

3. How many yards 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 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. What is a standard cost card for one backpack.