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.	$	0.61	per sq. ft.	$	7.32
Direct labor	0.1	hr.	$	10.00	per hr.		1.00
Variable manufacturing overhead (based on direct labor hours)	0.1	hr.	$	0.50	per hr.		0.05
Fixed manufacturing overhead $160,000 800,000 units)							0.20

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

Number of units produced and sold		900,000
Number of square feet of plastic used		10,350,000
Cost of plastic purchased and used	$	6,106,500
Number of labor hours worked		85,000
Direct labor cost	$	816,000
Variable overhead cost	$	51,000
Fixed overhead cost	$	138,000

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.)

Fixed Overhead Spending Variance:

Fixed Overhead Volume Variance:

Over- or Underapplied Fixed Overhead: