Parker Plastic, Incorporated, 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	square foot	$ 0.70	per square foot	$ 8.40
Direct labor	0.55	hour	$ 10.45	per hour	5.75
Variable manufacturing overhead (based on direct labor hours)	0.55	hour	$ 0.95	per hour	0.52
Fixed manufacturing overhead ($637,000 980,000 units)					0.65

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

Number of units produced and sold	1,080,000
Number of square feet of plastic used	12,420,000
Cost of plastic purchased and used	$ 8,445,600
Number of labor hours worked	589,000
Direct labor cost	$ 5,919,450
Variable overhead cost	$ 618,450
Fixed overhead cost	$ 624,000

Required:

Calculate Parker Plastics fixed overhead spending and volume variances and its over- or underapplied fixed overhead.

Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).

\begin{tabular}{|l|l|l|} \hline Fixed Overhead Spending Variance & & \\ \hline Fixed Overhead Volume Variance & & \\ \hline Over- or Underapplied Fixed Overhead & & \\ \hline \end{tabular}