Sanford Ltd. produces a product with the following standard cost card:

	Direct materials (20 kg)	$50.00
	Direct labour (7 hours)	84.00
	Variable overhead (7 hours)	21.00
	Fixed overhead (7 hours)	33.38

The fixed overhead rate is based on a standard monthly volume of 16366 units.

The actual results for the month of July 20x5 are as follows:

	Direct materials purchased and used (325500 kg)	$620000
	Direct labour (96688 hours)	1023000
	Variable overhead	320000
	Fixed overhead	574715
	Units produced and sold	15218 units

What is Sanfords fixed overhead volume variance for July 20x5 (note: a negative number represents an unfavourable variance and a positive number represents a favourable variance)?

Select one:

a. $-28418

b. $-38320

c. $86895

d. $38320