Exercise $8-17$A $($Algo$)$ Determining and interpreting fixed cost variances LO $8-4,8-5,8-6$

$2\mathrm{.}5$ points

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Solomon Company established a predetermined fixed overhead cost rate of $$32$ per unit of product. The company planned to make $7,700$ units of product but actually produced only $7,000$ units. Actual fixed overhead costs were $$254,500.$

Required

a$.$ DDetermine the fixed cost spending variance and indicate whether it is favorable $($F$)$ or unfavorable $(U).$

b$.$ Determine the fixed cost volume variance and indicate whether it is favorable $($F$)$ or unfavorable $($U$).$

Note: For all requirements, Select "None" if there is no effect $($i$.$e$.,$ zero variance$).$

$\backslash$table$[[$a$.$ Total spending variance,,$],[$b$.$ Total volume variance,,$]]$