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)	12	sq ft.	$	0.72	per sq. ft.	$	8.64
Direct labor	0.25	hr.	$	12.20	per hr.		3.05
Variable manufacturing overhead (based on direct labor hours)	0.25	hr.	$	1.20	per hr.		0.30
Fixed manufacturing overhead ($(expression error) (expression error) units)							0.42

Parker Plastic had the following actual results for the past year:

Number of units produced and sold		1,000,000
Number of square feet of plastic used		11,800,000
Cost of plastic purchased and used	$	8,260,000
Number of labor hours worked		245,000
Direct labor cost	$	2,891,000
Variable overhead cost	$	318,500
Fixed overhead cost	$	355,000

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.)