Direct materials (plastic) Direct lobor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing ovechead. 5345,800 +910,000 units) Standard Standard Quantity Standard Price (itate) Unit Cost 12 sqft $ 0.83 per sq.ft $9.96 0.25.hr $10.50 per hr. 2.62 0.25 hr $ 2.20 per hr 0,55 0.38 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 1,040,000 11,400,000 $9,120,000 308,000 $3,449,600 5 689,000 365,000 Required: Calculate Parker Plastic's direct materials price and quantity 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 Material Price Variance Direct Matonal Quantity Variance