$20$

Assume that a company uses a standard cost system and applies overhead to production based on direct labor$-$hours. It provided the following information for its most recent year:

Actual fixed overhead cost for the year

Budgeted direct labor$-$hours

$2$ Actual direct labor$-$hours

Standard direct labor$-$hours allowed for the actual output Fixed overhead budget variance

$$276,000$

$60,000$

$56,000$

$58,000$

$$24,000,F$

What is the fixed overhead volume variance?

Multiple Choice

$$10,000U$

thin

$$10,000F$

$$20,000$ U

$$20,000F$