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Information on Carney Company's fixed overhead costs follows: Overhead applied $ 361,000 Actual overhead 387,000 Budgeted overhead 371,500 Required: What are the fixed overhead price

Information on Carney Company's fixed overhead costs follows:

Overhead applied $ 361,000
Actual overhead 387,000
Budgeted overhead 371,500

Required:

What are the fixed overhead price and production volume variances? (Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)

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