Check my work 4 E9-9 (Algo) Calculating Direct Labor Variances (LO 9-4) 2 points Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Quantity 10 sq ft. 0.25 hr. 0.25 hr. Direct materials (plastic) Direct labor Variable manufacturing overhead (based on direct labor hours Fixed manufacturing overhead ($270, 600 902,000 units) Standard Price (Rate) $ 0.82 per sq. ft. $10.20 per hr $ 1.40 per hr. Standard Unit Cost $ 8.20 2.55 0.35 eBook 0.30 Hint Parker Plastic had the following actual results for the past year: Print References 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 1,020,000 11,000,000 $ 8,800,000 300,000 $ 3,000,000 $ 400,000 $ 357,000 Required: Calculate Parker Plastic's direct labor rate and efficiency 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).) $ 60,000 Direct Labor Rate Variance Direct Labor Efficiency Variance