What was the fabor rate variance for March? The labor efficlency varlance? (Do not round your intermediate calculations. Indicate the effect of each variance by selecting " F " for favorable, " U " for tenfovorable, and "None" for no offect (1.e., 2 ero variance), Input all amounts as pasitive values.) How many yards of material are required at standard per backpack? (Round your answer to 1 decimal place.) \begin{tabular}{|l|l|l|ll|l|l|} \hline & \begin{tabular}{c} Standard Quantity \\ or Hours \end{tabular} & & \multicolumn{2}{|c|}{\begin{tabular}{c} Standard Prico or Rate \\ Cost \end{tabular}} \\ \hline Direct materials & & yards & $ & 6.00 & per yard & \\ \hline Direct labor & & hours & & & per hour \\ \hline Variable manufacturing overhead & & hours & $ & 2.00 & per direct labor-hour & \\ \hline Total standard cost & & & & & & \\ \hline \end{tabular} Required 7 Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below: Overhead is applied to production on the basis of direct labor-hours. During March, 400 backpacks were manufactured and sold. Selected information relating to the month's production is given below: *For the month's production. The following additional information is available for March's production: Required: Hint: it may be helpful to complete a general model diagram for direct materials, direct tabor, and variable manufacturing overhead before nttenipting to answer any of the requirements. 1. What is the standard cost of a single backpack? 2. What was the octual cost per backpack produced during Morch? 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. Prepare a standard cost card for one backpack. What was the variable overhead rate variance for March? The variable overhead efficiency variance? (Oo not round for no effect (he, zero variance), Input all amounts as positive values.) Complete this question by entering your answers in the tabs below. What is the standard direct labor rate per hour? (Round your answers to 2 decimal places). What is the standard cost of a single backpack? (Round your answer Complete this question by entering your answers in the tabs below. What was the materials price variance for March if there were no beginning or ending inventories of materials? (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no. effect (l.e., zeto variance). Input all amounts as positive values.) Complete this question by entering your answers in the tabs below. What was the actual cost per backpack produced during March? (Round your a
