Parker Plastic, Incorporated, 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$)15$ square foot $ $0\mathrm{.}90$ per square foot $ $13\mathrm{.}50$

Direct labor $0\mathrm{.}25$ hour $ $12\mathrm{.}60$ per hour $3\mathrm{.}15$

Variable manufacturing overhead $($based on direct labor hours$)0\mathrm{.}25$ hour $ $1\mathrm{.}80$ per hour $0\mathrm{.}45$

Fixed manufacturing overhead $($$$539,400-$: $930,000$ units$)0\mathrm{.}58$

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

Number of units produced and sold $1,240,000$

Number of square feet of plastic used $12,400,000$

Cost of plastic purchased and used $ $9,920,000$

Number of labor hours worked $328,000$

Direct labor cost $ $3,968,800$

Variable overhead cost $ $1,350,000$

Fixed overhead cost $ $385,000$

Required:

Calculate Parker Plastic$$s direct materials price and quantity variances.

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$).$Parker Plastic, Incorporated, manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year

follows:

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

Required:

Calculate Parker Plastic's direct materials price and quantity variances.

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$).$