Haines Manufacturing Company (HMC) bases its fixed overhead rate on practical capacity of 38,000 units per year. Budgeted and actual results for the most recent year follow: Budgeted Actual Fixed manufacturing overhead $912,000 $864,000 Number of units produced 28,000 30,000 Required: 1. Calculate the fixed overhead rate based on practical capacity. (Round your final answer to 2 decimal places.) Answer is complete and correct. Fixed Overhead Rate $ 24.00 per unit 2. Calculate the fixed overhead spending variance.(Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) Answer is complete and correct. Fixed Overhead Spending Variance $ 48,000 F 3. Calculate the expected (planned) capacity variance. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) Answer is complete but not entirely correct. Expected (Planned) Capacity Variance $ 480,000 U