Question: 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

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 actual 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. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (Le., zero variance)

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