E9-10 (Algo) Calculating Variable Overhead Variances [LO 9.5] Parker Plastic, Incorporated, manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Parker Plastic had the following actuai results for the past year: Required: Calculate Parker Plastic's variable overhead rate and efficiency variances and its over- or underapplied variable overhead Note: Do not round intermediate calculations. Indicote the effect of each variance by selecting "F" for favorable, " U " for unfavoroble, and "None" for no effect (l.e., zero variance). Plastic, Incorporated, manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year s: if Plastic had the following actual resuits for the past year: lired: Ilate Parker Plastic's variable overhead rate and efficiency variances and is over-or underapplied variable overhead. Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for vorable, and "None" for no effect (li.e., zero variance). E9-10 (Algo) Calculating Variable Overhead Variances [LO 9.5] Parker Plastic, Incorporated, manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Parker Plastic had the following actuai results for the past year: Required: Calculate Parker Plastic's variable overhead rate and efficiency variances and its over- or underapplied variable overhead Note: Do not round intermediate calculations. Indicote the effect of each variance by selecting "F" for favorable, " U " for unfavoroble, and "None" for no effect (l.e., zero variance). Plastic, Incorporated, manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year s: if Plastic had the following actual resuits for the past year: lired: Ilate Parker Plastic's variable overhead rate and efficiency variances and is over-or underapplied variable overhead. Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for vorable, and "None" for no effect (li.e., zero variance)