Question: 3 please help with answering this question. thank you Return to question Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its

3 please help with answering this question. thank you

Return to question Parker Plastic, Inc., 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 ($539,400 - 930,000 unita) Standard Standard Price Standard Quantity (Kate) Unit Cost 15 sq ft. $ 0.90 per sq. ft. $13.50 0.25 hr. $12.60 per hr. 3.15 0.25 hr. $ 1.80 per hr. 0.45 0.58 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 coat Variable overhead cost Fixed overhead cost 1,240,000 12,400,000 $9.920,000 328,000 $ 3,968,800 $ 1,350,000 $ 385,000 Required: Number of square feet of plastic used Cost of plastic purchased and used Number of labor hours worked Direct labor cost Variable overhead cost Pixed overhead cost 12,400,000 $ 9,920,000 328,000 53,968, 800 $ 1,350,000 $ 385.000 Required: Calculate Parker Plastic's direct labor rate and efficiency variances. (Do not round intermediate calcule ons. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance)) Answer is complete but not entirely correct. Direct Labor Rate Variance Direct Labor Efficiency Variance $ 1,240,000 $ 5,580,000

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