Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Standard Price Standard Quantity (Rate) Unit Cost Direct materials (plastic) 12 sq ft. $ 0.75 per sq. ft. $ 9.00 Direct labor 0.75 hr. $10.65 per hr. 7.99 Variable manufacturing overhead (based on direct labor hours) 0.75 hr. $ 1.15 per hr. 0. 86 Fixed manufacturing overhead ($901, 000 + 1, 060, 000 units) 0. 85 Parker Plastic had the following actual results for the past year: Number of units produced and sold 1, 160, 000 Number of square feet of plastic used 13,340,000 Cost of plastic purchased and used $ 9,738, 200 Number of labor hours worked 865, 000 Direct labor cost $ 8, 866,250 Variable overhead cost 1, 081, 250 Fixed overhead cost 892, 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