Direct materials (plastic) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($422,280 +918,000 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 1,120,000 11,800,000 $ 14,160,000 X Answer is not complete. $ 234,000 U U 316,000 $ 3,634,000 Required: Calculate Parker Plastic's direct materials price and quantity variances. Direct Material Price Variance Direct Material Quantity Variance $ 960,000 $ 373,000 Note: 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). Standard Quantity 10 square foot 0.3 hour 0.3 hour 33 Standard Price (Rate) $ 1.13 per square foot $ 11.20 per hour $ 3.00 per hour Return to question Standard Unit Cost $ 11.30 3.36 0.90 0.46

Parker Plastic had the following actual results for the past year: Required: Calculate Pariker Plastic's direct materials price and quantity variances Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e.. xero variance)