1 0.5 points Beverly Company has determined a standard variable overhead rate of $4.10 per direct labor hour and expects to incur 0,50 labor hour per unit produced. Last month, Beverly incurred 1750 actual direct labor hours in the production of 3,600 units. The company has also determined that its actual variable overhead rate is $2.40 per direct labor hour. Calculate the variable overhead rate and efficiency variances as well as the total amount of over-or underapplied variable overhead. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect ( e., zero variance). eBook Variable Overhead Rate Variance Variable Overhead Efficiency Variance Over- or Underapplied Variable Overhead Print References Olive Company makes silver belt buckles. The company's master budget appears in the first column of the table. Required: Complete the table by preparing Olive's flexible budget for 4,000, 6,000, and 7.000 units. (Round your intermediate calculations to 2 decimal places.) Master Budget Flexible Budget Flexible Budget Flexible Budget (5,000 Units) (4,000 Units) (6,000 Units) (7.000 Units) Direct materials $ 500 Direct labor 3,000 Variable manufacturing overhead 1.000 Fixed manufacturing overhead 17.500 Total manufacturing cost $ 22.000 Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Standard Standard Price Unit Quantity (Rate) Cost Direct materials (plastic) 13 sq ft. $ 0.70 per sq. ft. $9.10 Direct labor 0.25 hr. $12.20 per hr. 3.05 Variable manufacturing overhead (based on direct labor hours) 0.25 hr. $ 1.40 per hr. 0.35 Fixed manufacturing overhead ($500,040 926,600 units) 0.54 Parker Plastic had the following actual results for the past year: Number of units produced and sold Number of square feet of plastic used Cost of plastic purchased and used Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 1,200,000 12,200,000 $ 7.320,000 324,000 5 3,855,600 $ 1,300,000 $ 381,000 5 Required: Calculate Parker Plastic's variable overhead rate and efficiency variances and its over- or underapplied variable overhead. (Do not round Intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance).) Variable Overhead Rate Variance Variable Overhead Exciency Variance Variable Overhead Spending Variance