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)	13	sq ft.	$	0.70	per sq. ft.	$	9.10
Direct labor	0.25	hr.	$	12.20	per hr.		3.05
Variable manufacturing overhead (based on direct labor hours)	0.25	hr.	$	1.40	per hr.		0.35
Fixed manufacturing overhead $500,040 926,000 units)							0.54

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

Number of units produced and sold		1,200,000
Number of square feet of plastic used		12,200,000
Cost of plastic purchased and used	$	7,320,000
Number of labor hours worked		324,000
Direct labor cost	$	3,855,600
Variable overhead cost	$	1,300,000
Fixed overhead cost	$	381,000

Required: Calculate Parker Plastics direct materials price and quantity variances. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.)

Note: KeyWord here is Direct Material, not Direct labor. Watch out for that.

Direct Material Price Variance		F
Direct Material Quantity Variance		F