Show me the steps to solve A manufacturing company has a standard costing system based on machine hours $($MHs$)$ as the measure of activity. Data from the company's flexible budget for manufacturing overhead are given below:

Budgeted$/$denominator level of activity $3,700$ MHs

Overhead costs at the denominator activity level:

Variable overhead cost $$28,490$

Fixed overhead cost $$47,545$

The following data pertain to operations for the most recent period:

Actual hours $3,900$ MHs

Standard hours allowed for the actual output $3,850$ MHs

Actual total variable overhead cost $$29,445$

Actual total fixed overhead cost $$47,995$

What was the fixed overhead volume variance for the period to the nearest dollar?