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)	9	sq ft.	$	1.30	per sq. ft.	$	11.70
Direct labor	0.3	hr.	$	13.50	per hr.		4.05
Variable manufacturing overhead (based on direct labor hours)	0.3	hr.	$	1.30	per hr.		0.39
Fixed manufacturing overhead ($619,080 938,000 units)							0.66

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

Number of units produced and sold		1,000,000
Number of square feet of plastic used		12,800,000
Cost of plastic purchased and used	$	15,360,000
Number of labor hours worked		336,000
Direct labor cost	$	4,200,000
Variable overhead cost	$	1,700,000
Fixed overhead cost	$	393,000

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.)

Variable Overhead Rate Variance	$
Variable Overhead Efficiency Variance	$
Variable Overhead Spending Variance	$

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