Check 14 1 points Parker Plastic Inc, manufactures plastic mots to use with rolling office chairs. Its standard cost information for last year follows Standard Standard Quantity Standard Price (Bate) Unit cost Direct materials (plastic) 14 sq ft. $0.80 per sq. ft. $11.20 Direct labor 0.25 h. $12.40 per hr 3.10 Variable manufacturing overhead 0.25 hr. (based on direct labor hours) $ 1.60 per hr 0.40 Fixed manufacturing overhead (5519,680 928,000 units) Sapped Parker Plastic had the following actual results for the past year Refore 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 cost 1.220,00 12.100.000 5,610,000 126,000 5,912,000 $ 1.200.000 $ . Required: Calcite Parker Plastics variable overhead rate and efficiency variances and its over- or underapplied variable overhead (Do not