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Betty's Bakery has the following standard cost sheet for one unit of its most popular cake: During the month of May, the company made 940 cakes and incurred the following actual costs: Direct materials purchased and used (1,420 pounds), $1,846 Direct labor (1,000 hours), $11,500 Required: 1. Calculate the direct materials price variance. 2. Calculate the direct materials quantity variance. 3. Calculate the direct materials spending variance. 4. Calculate the direct labor rate variance. 5. Calculate the direct labor efficiency variance. 6. Calculate the direct labor spending variance. Note: For all requirements, Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your intermediate calculations to two decimal places. 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 direct materials pice 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 (Le., zero variance). Parker Plastic, Incorporated, manufactures plastic mats to use with rolling offlce chairs, its standard cost information for last year follows: in: Parker Plastic had the following actual results for the past year: Required: Calculate Parker Plastic's direct labor rate and efficiency 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 (i.e., zero varlance)

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