Table: Measuring GDP Measuring GDP (billions of dollars) Personal consumption expenditures Gross private domestic investment Net exports State and local government purchases of goods and services Federal government purchases of goods and services Imports I 9. (Table: Measuring GDP) Look at the table Measuring GDP. Total expenditures by the household sector are: A) $100 billion. B) $150 billion. C) $200 billion. D) $500 billion. $500 200 -5 200 100 15.

Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a sin backpack are given below: Overhead is applied to production on the basis of direct labor-hours. During March, 440 backpacks were manufactured ano sum Selected information relating to the month's production is given below Required: Hint: It may be helpful to complete a general model diagram forTdirect materials, direct labor, and variable manufacturing 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 efficlency variance? 8. Prepare a standard cost card for one backpack. Complete this question by entering your answers in the tabs below