Quorum Industries manufactures Bluetooth headphones. The company applies fixed manufacturing overhead based on standard direct labour hours. The following information relates to the company's budgeted and actual fixed manufacturing overhead costs for the year: Static budget cost Actual cost Budgeted units of production Budgeted direct labour hours per unit Actual units of production Actual direct labour hours $962,500 $1,011,000 55,000 3.5 hours 55,200 192,000 Based on the above information, what are the fixed manufacturing overhead budget and volume variances for the year?