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

follows:

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

Required:

Calculate Parker Plastic's 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$).$