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thank you!! Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Standard Price
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Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Standard Price Quantity (Rate) 9 sq ft. $ 1.30 per sq. ft. 10.3 hr. $13.50 per hr. 0.3 fir. $ 1.30 per hr. Standard Unit Cost $11.70 4.05 Direct materials (plastia) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead 5619,0BO - 938,000 units) 0.39 0.66 Parker Plastic had the following actual results for the past year: kumber of units produced and sold Number of square feet of plastic used Cost of plastic purchased and used kumber of labor hours worked Direct laboy cost Variable overhead cosu Fixed overhead case 1,000,000 12,800,000 $ 15,360,000 336,000 $ 4,200,000 $ 1,700.000 s 393.000 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 favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Direct Material Price Variance Direct Material Quantity VarianceStep by Step Solution
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