Question 7tof9) Save & Ext Submt Time remaining: 3-25:18 L.11 points Parker Plastic, Inc, manufactures plastic mats to use with rolling office chairs. its standard cost information for last year follows Standard Quantty Standard Price (Rate) Unit Cost 10 sq ft 082 per sq t Direct materials (plastc) S 8 20 Direct labor 0 25 hr $ 10 20 per hr 140 per hr 255 0 35 0 30 Vanable manufacturing overhead (based on 025 hr direct labor hours) overhead $270,600 Foed 902,000 unts) Parker Plastic had the following actual results for the past year Number of unts peoduced and sold Number of square feet of plastic used Cost of plastic purchased and used Number of labor hours worked roct labor Variable overead cost Faxed overhead cost 1,020.000 11,000,000 8800,000 00,000 3.000000 400,000 $35 000 Required: Caculate Parker Plastic's variable overhead rate and eficlency varlances and its over- or underapplied vartable overhead (Do not round intermediate calculations Indicate the effect of each variance by selecting"F for Favorable/Overapplied and "U" for Un Overhead Rate Overhead Efficency Overhead Spending Variance Varance Hints References Book & Resources Hint e1 Ask your instructor.a.question Check my.work