E9-8 (Algo) Calculating Direct Materials Variances [LO 9-3] Paiket Piastic, incorporated, manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Parker Plastic had the following actual results for the past year: Requlied: Colculate Parker Plastic s direct materials price and quantity vaitances Note. Do not round intermediate colculations. Indicate the effect of eoch vorience by selecting "F" for favorable, "U" for unfevorable, and 'None' for no effect (i.e, zero variance)