Top Par Company makes customized golf shirts for sale to golf courses. Each shirt requires 2.5 hours to produce because of the customized logo for each golf course. Top Par uses direct labor-hours to allocate the overhead cost to production. Fixed overhead costs, including rent, depreciation, supervisory salaries, and other production expenses, are budgeted at $15,000 per month. The facility currently used is large enough to produce 1,500 shirts per month. During March, Top Par produced 620 shirts and actual fixed costs were $12,400. Read the requirements. Requirements 1 & 2. Calculate the fixed overhead spending variance and indicate whether it is favorable (F) or unfavorable (U). If Top Par uses direct labor-hours available at capacity to calculate the udgeted fixed overhead rate, what is the production-volume variance? Indicate whether it is favorable (F) or unfavorable (U). Begin by determining the formula then computing the fixed overhead rate per direct labor hour. (Round the fixed overhead rate to the nearest cent.) Next, complete the following table. Fixed overhead rate =