Parker Plastic, Inc., manufactures pastc mats to use with relling omce chars Its standard cast infermation for last year folows Sandard Quantty Standard Price (Rate) nt Cost Direct materials (plastic) Direct labor 12 sqft 072 par sq S 12.20 per hr $0 64 0.25 hr. 3.05 0.30 0.42 Variable manufacturing overhead (based on 0.25 hr S 1.20 pcr hr direct labor ours) Fixed manufacturing ovemead (S378000 900,000 units) Parker Plastic had the fallowing acual results for the past year Number of units produced and sold Number of square feat of plastic used Cost of plastic purchasad and used Numbar of lahor hours warkad Direct labor cost Variable overhead cost Fixed overhead cost 1.000,000 11800000 S 8260 000 245 000 S 2891.000 S 318.500 S 355.000 Required: Ca culate Parker Plass xed overhead spending and volume varlances and its over-or underapplied fixed overhead. (Indicate the effect of each varlance by selecting "F" for favorable Overapplled and "U" for unfavorable/underapplled.) Foxed Overhead Spending Variance Fbeod Ovarhaad Valume Variance Over-or Undarapplied Fad Overhead