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

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Question

Accounting

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