Regency Corp. uses a standard cost system to account for the costs of its one product. Fixed overhead is applied to production at a rate of $27.10 per unit, based on budgeted production is 2,425 per month. During November, Regency produced 2,265 units. Fixed overhead incurred totaled $70,840. a. Calculate the fixed overhead spending variance. (Do not round intermediate calculations and round your final answer to the nearest dollar amount. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance).)

b. Calculate the fixed overhead volume variance. (Do not round intermediate calculations and round your final answer to the nearest dollar amount. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance).)