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: Total budgeted fixed overhead cost for the year Actual fixed overhead cost for the year Budgeted direct labor-hours Actual direct labor-hours Standard direct labor-hours allowed for the actual output $300,000 $ 276,000 60,000 56,000 56,600 What is the fixed overhead volume variance? Multiple Choice O $20,000 U $20,000 F $17,000 V O $17,000F