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) 11 sq ft. $ 0.73 per sq. ft. $ 8.03 Direct labor 0.25 hr. $ 10.40 per hr. 2.60 Variable manufacturing overhead (based on direct labor hours) 0.25 hr. $ 2.00 per hr. 0.50 Fixed manufacturing overhead $326,880 908,000 units) 0.36 Parker Plastic had the following actual results for the past year: Number of units produced and sold 1,020,000 Number of square feet of plastic used 11,300,000 Cost of plastic purchased and used $ 7,910,000 Number of labor hours worked 306,000 Direct labor cost $ 3,335,400 Variable overhead cost $ 630,000 Fixed overhead cost $ 363,000 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.)