The following information is available for the Danske Company Denominator hours for May Actual hours worked during May Standard hours allowed for May Flexible budget fixed overhead cost Actual fixed overhead costs for May 15,500 14,800 12,400 $ 55,000 $58,000 Danske Company had total underapplied overhead of $15,400. Additional information is as follows: Variable Overhead: Applied based on standard direct labor-hours allowed Budgeted based on standard direct labor-hours $ 46,000 38,400 Fixed Overheads Applied based on standard direct labor-hours allowed. Budgeted based on standard direct labor-hours What is the production volume variance for May? $34,000 27,400 What is the production volume variance for May? Multiple Choice $2,400 $11,000 $7,200 $3,100