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) Direct labor. $ 8.16 8 sq ft. $ 1.02 per sq. ft. 0.3 hr. $11.10 per hr. 3.33 0.3 hr.. $ 2.60 per hr. 0.78 Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead $383,880 914,000 units) 0.42 Parker Plastic had the following actual results for the past year: Number of units produced and sold 1,000,000 11,600,000 Number of square feet of plastic used Cost of plastic purchased and used Number of labor hours worked i $11,600,000. 312,000 Direct labor cost $ 3,681,600 Variable overhead coat $ 800,000 Fixed overhead cost $ 369,000 Required: Calculate Parker Plastic's 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, and "None" for no effect (i.e., zero variance).) Direct Material Price Variance Direct Material Quantity Variance