Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Price (Rate) Direct materials (plastic) Direct labor 12 sq ft.S 0.72 per sq ft 0.25 hr.$12.20 per hr 1.20 per hr. $8.64 3.05 0.30 Variable manufacturing overhead (based on 025 hr direct labor hours) Fixed manufacturing overhead ($378,000 900,000 units) 0.42 Parker Plastic had the following actual results for the past year 1,000,000 11,800,000 S 8,260,000 245,000 S 2,891,000 S 318,500 S 355,000 Cost of plastic purcha Number of labor hours worked Direct labor cost Variable overhead cost ead cost Required: Calculate Parker Plastic's direct materials price and quantity variances. (Do not round intermediate calculations. Indicate the effect of each v unfavorable.) Direct Material Price Variance O Type here to search