Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 5 Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: 1 Direct materials (plastic) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($559,200 + 932,000 units) Standard Standard Quantity Standard Price (Rate) Unit Cost 12 sq ft. $ 1.a per sq. ft. $ 12.ee 0.25 hr. $12.88 per hr 3.28 0.25 hr. $ 2.ee per hr @.50 @.60 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 1,260,899 12.500, aee $ 11,250,000 338, ase $ 4,026,820 $ 1,480,000 $ 387,880 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 (i.e., zero variance).) Answer is complete but not entirely correct. x Direct Labor Rate Varanon Direct Labor Efficiency Variance 153,000 U S 530,400 X u