Regarding Racial Favored Class Bonus... Non-Human: No. Half-Human: Yes.
Can a half-elf or half-orc select human racial favored class options?
Yes. Half-elves and half-orcs may select racial favored class options, archetypes, traits, and so on, as if they were a full member of both races (a half-elf can select elf and human rules elements, a half-orc can select human and orc rules elements)
Campaign Specific Trait
If you are allowed, you could choose the Finding your Kin trait to get extra HP and skill points in addition to your racial favored bonus:
The chosen class is always a favored class to you, and your dedication to it is such that every time you take a level in the class, you gain +1 hit point and 1 additional skill point over and above what you would normally gain. If multiple PCs take this trait, they should be siblings who were both protected and raised by the chosen NPC.
Good Quote from Giants in the Playground
Topic: [PF] Favoured class bonuses unbalanced?
I agree that they aren't really balanced. But that's sort of the point (or should be...).
Favored bonuses primarily reflect that race's "feel" (flavor), which is why there is no Favored bonus for Dwarf/Sorcerer's, because Dwarves as a race don't match the Sorcerer "feel" (and the CHA penalty doesn't help...), but they DO have a Favored bonus for Oracle, because of the strong connection between Dwarves and Clerics.
Also, ideally, the Favored bonuses should compensate for relative strength/weakness of certain race/class choices, i.e. Dwarfs do not make the best Oracles due to the CHA penalty, so their bonus should be better than a race with a CHA bonus (balance).
And comparing Dwarves and Gnomes, Dwarves do have the (relatively) better bonus: 'free' weapon proficiencies, vs. slightly quicker access to abilities you'll have at some point anyway.
There is usually a conflict between the two (balance/flavor).
Flavor-wise: Humans are the 'do anything' race, thus their Favored options are a little more open and flexible. Compare Human/Fighter to Dwarf/Fighter.
Humans "Add +1 to the fighter’s CMD when resisting two combat maneuvers of the character’s choice"
Dwarves "Add +1 to the fighter’s CMD when resisting a bull rush or trip"
Humans get a choice, because they are the more 'flexible' race.
Balance-wise: Also, look at the Goblin Favored Bonuses, they are heads above ANY other race's Favored bonuses (at least in comparable bonuses). But as a Race, they have hardy any Race features, and have a net +0 to Stats (every other 'standard' race has net +2). So the Favored bonuses are a way of compensating for the otherwise 'weaker' race.
Halfling's get an awesome Favored bonus for going Monk "Add +1 to the monk’s CMD when resisting a grapple and +1/2 to the number of stunning attacks he can attempt per day.", but make the WORST Monks out of the main 7 Races (small size, wrong stats).
Regarding Bonus Spells Known...
It would really require feats, such as:
Extra Spells Known
Benefit: You learn two additional spells known for one spontaneous spellcasting class (such as bard or sorcerer) you have levels in. You may never use this feat to know more spells at any level than you know at each level below it.
Special: You can gain Extra Spells Known multiple times. Its effects stack.
Benefit: Add one spell from your class’s spell list to your list of spells known. This is in addition to the number of spells normally gained at each new level in your class. You may instead add two spells from your class’s spell list to your list of spells known, but both of these spells must be at least one level lower than the highest level spell you can cast in that class. Once made, these choices cannot be changed.
Special: You can only take this feat if you possess levels in a class whose spellcasting relies on a limited list of spells known, such as the bard, oracle, and sorcerer. You can gain Expanded Arcana multiple times.
Another magic item would be great, especially since it doesn't take up a slot:
Page of Spell Knowledge
If the bearer is a spontaneous spellcaster and has that spell on her class spell list, she may use her spell slots to cast that spell as if it were one of her spells known.
When a spell lattice is wielded by a spontaneous spellcaster who has the spell contained within it on her class spell list, she can use her spell slots to cast that spell as if it were one of her spells known.