Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Direct materials (plastic) Variable manufacturing overhead Standard Quantity Standard Price (Rate) $ 0.62 per sq. ft. Standard Unit Cost 12 sq ft. $ 7.44 Direct labor 0.15 hr. $10.05 per hr. 1.51 0.15 hr. (based on direct labor hours) $ 0.55 per hr. 0.08 0.25 Fixed manufacturing overhead ($205,000 820,000 units) Parker Plastic had the following actual results for the past year: Number of units produced and sold Number of square feet of plastic used Cost of plastic purchased and used Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 920,000 10,580,000 $ 6,348,000 133,000 $ 1,283,450 $ $ 86,450 184,000 Required: Calculate Parker Plastic's fixed overhead spending and volume variances and its over- or underapplied fixed overhead. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Fixed Overhead Spending Variance Fixed Overhead Volume Variance Over- or Underapplied Fixed Overhead