Check my worl Variances [LO 9.4] Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Direct materials (plastic) Direct labor Standard Standard Price (Rate) Unit Cost $10.50 per hr. Standard Quantity 12 sq ft. 0.3 hr. $ 0.83 per sq. ft. $9.96 3.15 0.3 hr. $ 2.20 per hr. 0.66 (based on direct labor hours) Fixed manufacturing overhead ($345,800+910,000 units) 0.38 Variable manufacturing overhead 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 use Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 1,040,000 11,400,000 $ 9,120,000 308,000 $ 3,449,600 $ 689,000 $ 365,000