Response to the following problem:
Engineering Associates billed clients for 11,000 hours of engineering work for the month. Actual fixed overhead costs for the month were $435,000, and 11,850 hours were worked. At the beginning of the year, a fixed overhead standard of $40 per engineering hour had been developed based on a budget of 10,000 engineering hours each month.
Calculate Engineering Associate's fixed overhead budget and volume variances for the month.