1) Calculate the operating income variance for the scenario mentioned below. We budgeted to sell 50,000 units for $875,000 revenue and $150,000 net profit. We actually sold 55,000 units for $923,000 revenue and $163,500 net profit.

2) Calculate the fixed overhead production volume variance for the scenario mentioned below. We budgeted $789,000 of fixed overheads and 28,025 machine hours to make 29,500 units. We later incurred $802,349 of fixed overheads and 31,400 machine hours and made 32,100 units.

Give your answer in 2 decimal places and in absolute dollar value (negative not required).