Acme Companys production budget for August is 19,000 units and includes the following component unit costs: direct materials, $8.0; direct labor, $11.6; variable overhead, $5.6. Budgeted fixed overhead is $47,000. Actual production in August was 20,445 units. Actual unit component costs incurred during August include direct materials, $9.80; direct labor, $10.00; variable overhead, $6.40. Actual fixed overhead was $50,000. The standard fixed overhead application rate per unit consists of $2.4 per machine hour and each unit is allowed a standard of 1 hour of machine time. Required: Calculate the fixed overhead budget variance and the fixed overhead volume variance