Standard Standard Standard Price (Rate) Quantity Unit Cost 12 sq ft. $ 9.72 per sq. ft. $8.64 0.25 hr. $12.20 per hr. 3.05 Direct materials (plastic) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($378,eee 900,000 units) 0.25 hr. $ 1.20 per hr. 0.30 0.42 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 1,000,000 11,800,000 $ 8,260.000 245,000 $ 2,891,000 $ 318,500 5 355,000 Required: Calculate Parker Plastic's direct materials price and quantity variances. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for fovorable, "U" for unfavorable, and "None" for no effect (ie, zero variance)) Direct material price vanance Direct material quantity variance