Refer to the information in question.

In Question, Hennings Travel Company specializes in the production of travel items (e.g., clocks, personal care kits). The following data were prepared so that a variance analysis could be performed.

FORECAST DATA (EXPECTED CAPACITY)

Direct labor hours .........40,000

Estimated overhead:

Fixed ...............$16,000

Variable ..............$30,000

ACTUAL RESULTS

Direct labor hours .......... 37,200

Overhead:

Fixed ..............$16,120

Variable ............$28,060

The number of standard hours allowed for actual production was 37,000 hours.

Required

A. Calculate the fixed overhead volume variance.

B. Calculate the fixed overhead spending variance.