Calculate the labor rate variance and the direct laboe effciency variance

13 Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: oints eBook Hint print References 47B, eeo 318, eee 375,eoe Standard Standard Quantity Standard Price (Rate) Unit Cost Direct materials (plastic) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($441, see + 92e.eee units) 11 sq ft. e.3 hr. e.3 hr. $ 1.26 per sq. ft. $ 13.86 $11.70 per hr. $ 2.10 per hr. 3.51 e.63 e. 48 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 Required: 1 , 140, eee 11, see, eee $ 15, $ 3,688, 8ee Calculate Parker Plastic's direct labor rate and efficiency variances. (Do not round intermediate calculations. Indicate the effect of