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 $300 , 000 Actual fixed overhead cost for the year $276 , 000 Budgeted direct labor-hours 60, 000 Actual direct labor-hours 56, 000 Standard direct labor-hours allowed for the actual output 56 , 500 What is the fixed overhead volume variance? Multiple Choice $17,500 F O $17,500 U