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 ($364,800 - 912,000 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 1,060,000 11,500,000 $ 10,350,000 $ Direct Labor Rate Variance Direct Labor Efficiency Variance 310,000 3,565,000 $ 780,000 $367,000 Standard Quantity 13 square foot 0.3 hour 0.3 hour Required: Calculate Parker Plastic's direct labor rate and efficiency variances. Note: Do not round Intermediate calculations. Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance). Standard Price (Rate) $0.93 per square foot $10.90 per hour $ 2.40 per hour 12:30:40. Standard Unit Cost $ 12.09 3.27 8.72 0.48

Parker Plastic, incorporated, monufactures plastic mats to use with rolting office chairs, its standard cost information for last year follows: Parker Plastic had the following actual results for the past year Required: Caiculate Parker Plastic's direct lobor rate and efficiency variances Note: Oo not round intermediete calculotions. Indicate the effect of each variance by selecting "F" for fovoroble, " U for unfovorable, and "None" for no effect (lie., zero verience). Parker Plastic, incorporated, monufactures plastic mats to use with rolting office chairs, its standard cost information for last year follows: Parker Plastic had the following actual results for the past year Required: Caiculate Parker Plastic's direct lobor rate and efficiency variances Note: Oo not round intermediete calculotions. Indicate the effect of each variance by selecting "F" for fovoroble, " U for unfovorable, and "None" for no effect (lie., zero verience)