Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows:

	Standard Quantity		Standard Price (Rate)			Standard Unit Cost
Direct materials (plastic)	12	sq ft.	$	0.67	per sq. ft.	$	8.04
Direct labor	0.4	hr.	$	10.30	per hr.		4.12
Variable manufacturing overhead (based on direct labor hours)	0.4	hr.	$	0.80	per hr.		0.32
Fixed manufacturing overhead $460,000 920,000 units)							0.50

Parker Plastic had the following actual results for the past year:

Number of units produced and sold		1,020,000
Number of square feet of plastic used		11,730,000
Cost of plastic purchased and used	$	7,624,500
Number of labor hours worked		403,000
Direct labor cost	$	3,989,700
Variable overhead cost	$	362,700
Fixed overhead cost	$	444,000

Required: Calculate Parker Plastics fixed overhead spending and volume variances and its over- or underapplied fixed overhead. (Indicate the effect of each variance by selecting "F" for favorable/Overapplied and "U" for unfavorable/underapplied.)