3. 1000 poines Parker Plastic, Inc, manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard QuantityStandard Price (Rate) 10 sq f S 082 per sq. ft Standard Unit Direct materials (plastic) Direct labor 8.20 2.55 0.35 0.25 hr s 10 20 per hr $ 1.40 per hr. Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead $270,600 0.30 902,000 units) 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 1.020,000 11.000,00 $ 8,800.000 300,000 $ 3,000,000 $400,000 $ 357,000 Required: Calculate Parker Plastic's direct materials price and quantty variances, (Do not round intermediate calculations. Indicate the e Direct Material Price Variance Direct Material Quantity Variance