Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows:

	Standard Quantity		Standard Price (Rate)			Standard Unit Cost
Direct materials (plastic)	11	sq ft.	$	0.73	per sq. ft.	$	8.03
Direct labor	0.25	hr.	$	10.40	per hr.		2.60
Variable manufacturing overhead (based on direct labor hours)	0.25	hr.	$	2.00	per hr.		0.50
Fixed manufacturing overhead $326,880 908,000 units)							0.36

Parker Plastic had the following actual results for the past year:

Number of units produced and sold		1,020,000
Number of square feet of plastic used		11,300,000
Cost of plastic purchased and used	$	7,910,000
Number of labor hours worked		306,000
Direct labor cost	$	3,335,400
Variable overhead cost	$	630,000
Fixed overhead cost	$	363,000

Required: Calculate Parker Plastics variable overhead rate and efficiency variances and its over- or underapplied variable overhead. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for Favorable/Overapplied and "U" for Unfavorable/Underapplied.)