Parker Plastic, Incorporated, 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 ($599,040 936,000 units) 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 Fixed overhead cost Required: 1,300,000 12,700,000 $ 13,970,000 334,000 $ 4,141,600 $ 1,620,000 $ 391,000 Calculate Parker Plastic's direct labor rate and efficiency variances. Standard Quantity 8 square foot 0.3 hour Standard Price (Rate) $ 1.20 per square foot $ 13.30 per hour 0.3 hour $ 2.40 per hour Note: 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). Direct Labor Rate Variance Direct Labor Efficiency Variance Standard Unit Cost $ 9.60 3.99 0.72 0.64