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Parker Plastic, Inc., 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: Number of units produced and sold $1,000,000$ Number of square feet of plastie used $11,800,000$ Cost of plastic purchased and used $5,260,000$ Number of labor hours worked 245,000 Direct labor cont Variable overhead cost $2,891,000$ Fixed overhead cost 318,500 355,000 Required: Calculate Parker Plastic's variable overhead rate and efficiency variances and its over-or underapplied variable ovechead. (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).) \begin{tabular}{|l|l|l|} \hline Variable overhead rate variance \\ \hline Variable overhead efficiency variance \\ \hline Variable overhead spending variance \\ \hline \end{tabular}

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