Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Direct materials (plantic) Direct labor Variable manufacturing overhead (based on direct labor hours) Tixed manufacturing overhead (5639,200 940,000 units) Standard Standard Price Standard Quantity (Rate) Unit Cost 10 mg ft. $ 1,40 per ng, ft. $14.00 0.3 h. $13.70 per hr. 4.11 0.3 hr. $ 1.50 per hr. 0.45 0.68 Parker Plastic had the following actual results for the past year Number of units produced and sold Number of square feet of plastic used Cost of plastie purchased and used Number of labor hours worked Direct labor cont Variable overhead cost Tixed overhead coat 1,020,000 12.900.000 516,770,000 338,000 $4,258,800 $ 1,760,000 $ 395,000 Required: Calculate Parker Plastic's 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, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Required: Calculate Parker Plastic's 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, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Variable Overhead Rate Variance Variable Overhead Efficiency Variance Variable Overhead Spending Variance