Approach Company, which applies overhead to production on the basis of machine hours, reported the following data for the period just ended: Actual units produced: 10,400 Actual fixed overhead incurred: $880,000 Standard fixed overhead rate: $16 per hour Budgeted fixed overhead: $850,000 Planned level of machine-hour activity: 53,000 If Approach estimates five hours to manufacture a completed unit, the company's fixed-overhead volume variance would be: Multiple Choice $16,000 negative $16,000 positive $30,000 negative $30,000 positive None of the answers its correct Approach Company, which applies overhead to production on the basis of machine hours, reported the following data for the period just ended: Actual units produced: 10,400 Actual fixed overhead incurred: $880,000 Standard fixed overhead rate: $16 per hour Budgeted fixed overhead: $850,000 Planned level of machine-hour activity: 53,000 If Approach estimates five hours to manufacture a completed unit, the company's fixed-overhead volume variance would be Multiple Choice $16,000 negative $16,000 positive. $30,000 negative $30,000 positive None of the answers is correct