Check my wo Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are glven below. Standard Quantity de for Direct materials Direet Labor Standard Price or Rate $5.00 per yard 2 per direct $ 2 labor-hour Standard Coat $2 2 Variable manufacturing overhand Total standard cont per unit ? 2 Overhead is applied to production on the basis of direct labor-hours. During March, 440 backpacks were manufactured and sold. Selected information relating to the month's production is given below: Materiale Deed $ 9,460 $ 0,272 ? BOU Direct tabor 16,460 Variable Manufacturing Ovechead 51.22 $1.738 Total standard cont 1loved Actual conta Ineurred Materiale price variance tecial quantity variance Labor rate variance Labor of tielaney variance Variable overhead rate variance Variable overhead off Lelaney Variance "For the month's production The following additional Information is available for March's production: Actual direct labor-hours Difference between standard and actual cout per backpack produced during Mach 660 $ 0.20 Required: E