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

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

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.)

Standard QuantityStandard Price (Rate) Standard Unit Cost 8 sqft $ 1.02 per sq. ft 0.3 hr Direct materials (plastic) $8.16 Diri kabon Variable manufacturing overhead (based on 0,3 hr $11.10 per hr. 2.60 per hr 3.33 0.78 0.42 direct labor hours) Fixed manufacturing overhead S383,880+ 914,000 units)