Highland Company produces a lightweight backpack that is popularwith college students. Standard variable costs relating to a singlebackpack are given below:. Overhead is applied toproduction on the basis of direct labor-hours. During March, backpacks were manufactured and sold. What was the materials price variance for March if there were nobeginning or ending inventories of materials? Do not roundintermediate calculations. Indicate the effect of each variance byselecting "F" for favorable, "U" for unfavorable, and "None" for noeffect i.

What was the labor rate variance for March? The labor efficiencyvariance? Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" forfavorable, "U" Highland Company Produces A Lightweight Backpack unfavorable, and "None" for no effect i. What was the variable overhead rate variance for March? Thevariable overhead efficiency variance?

Prepare a standard cost card for one backpack. Roundyour answers to 2 decimal places. Variable manufacturingoverhead Total standard cost a Because there were no beginningor Highland Company Produces A Lightweight Backpack raw materials inventories, the materials purchased wereall used in production during the month. The price and quantity variances together therefore equal the total variance.

Prepare an amortization schedule for the first threeperiods. Use Table Do not round intermediatecalculations. Round your final answers to the nearestcent. Header search input. Study Resources. Homework Help. Earn by Contributing.

Log In. Sign Up. Accounting Find another solution Ask a question. Add Question to Bookmarks. Direct labor? Variable manufacturingoverhead? Labor efficiencyvariance? Variable overheadrate variance? Variable overheadefficiency variance? What is the standard cost of asingle backpack? What was the actual cost perbackpack produced during March? Round your answers to 2decimal places. How many yards of material are required at standard perbackpack?

What is the standard direct labor rate per hour? Posted May 1 Answered May 1 OC Washington University in St. Answer:1 Materials Standard cost of a Find Company Directors Australia backpack above Total standard cost of materials used during March a Standard cost of materialused Long-term assets b. Current assets and current liabilities c.

Dividends and treasury stock. Semiannual cash interest payment Par maturity value Annual Rate Year. Difference betweenstandard and actual cost per backpack produced during March. Number of backpacks produced b Deduct favorable variance between standard and actualcost Actual cost perbackpack Number of backpacks produced during March b