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my answers are in the second picture, just making sure i did this right. E9-8 (Algo) Calculating Direct Materials Variances [LO 9-3) Parker Plastic, Inc.,

my answers are in the second picture, just making sure i did this right. image text in transcribed
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E9-8 (Algo) Calculating Direct Materials Variances [LO 9-3) 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 Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead 5519,680.928,000 units) Standard Standard Price Quantity (Bate) 14 sq ft. $ 0.80 per sq. ft. 0.25 hr. $12.40 per hr. 0.25 hr. $ 1.60 per hr. Standard Unit Cost $11.20 3.10 0.40 0.56 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 cont Variable overhead cost Fixed overhead coat 1,220,000 12,300,000 58. 610,000 326,000 $ 3,912,000 5 1.240,000 $ 303,000 Required: Calculate Parker Plastic's direct materials price and quantity variances. (Do not round intermediate calculations. Indicate the effec each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Required: Calculate Parker Plastic's direct materials price and quantity variances. (Do not round intermediate calcu each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero v $ Direct Material Price Variance Direct Material Quantity Variance 683,2000 3,967,400 5

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