Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Direct materials (plastic) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead $539,400 + 930,000 units) Standard Standard Price Standard Quantity (Rate) Unit Cost 15 sq ft. $ 0.90 per sq. ft. 0.25 hr. $12.60 per hr. $13.50 3.15 0.25 hr. 1.80 per hr. 0.45 0.58 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 plastic purchased and used Number of labor hours worked Direct labor cost Variable overhead cost Trixed overhead cost 1,240,000 12,400,000 $ 9,920,000 328,000 $ 3,968,800 1,350,000 385,000 Required: Calculate Parker Plastics variable overhead rate and efficiency variances and its over- or underapplied variable overhead