Parker Plastic, Inc, manufactures plastic mats to use with roling office chairs. Its standard cost information for last year follows Direct labor (plasc) Variable manufacturing overhead (ased 025hr 200 perr 025 hr $1040 per hr 2 60 0 50 0 36 on dieect labor hours) Faxed manufacturing overhead $326,880 908,000 unts) Parker Plastic had the following achual resuits for the past year Number of unts produced and soid Number of square feet of plastic used Cost of plastic purchased and used Number of labor hours woked Direct labor cost Variuble overhead oost Fixed overhead co 1,020 000 1,300 000 7,910 000 08.000 3,335 400 630000 5 383.000 Required Calouiate Paker Paste's variable ovemead rate and efficiency variances and its over or underapplied variable overhead. (De not round intermediate calculations. Indicale the effect of each variance selecting P for Favorable/Overapplied and "u for Unfaverable/Underapplied Overhead Rate V Overhead Spending Variance