6.66 oints Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Standard Price Standard Quantity (Rate) Unit Cost 13 nft0.70 per sq. ft. $9.10 0.25 hr $12.20 per hr. 3.05 0.25 hr. $ 1.40 per hr Direct materials (plastie) Direct labor Variable manufacturing overhead (based on direct labor hours) Tixed manufacturing overhead ($500,040 - 926.000 units) Book 0.35 0.54 Hint Parker Plastic had the following actual results for the past year, Print fo References Number of units produced and sold Number of square feet of plastic used Cont of plastie purchased and used umber of labor hours worked Direct Labor cost Variable overhead coat Fixed overbead coat 1.200,000 12,200,000 $ 7,320,000 324,000 3,855,600 $ 1.300,000 5 381,000 Required: Calculate Parker Plastic's direct labor rate and efficiency variances. (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 Direct Laborat Variance Direct Labor Efficiency Variance