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 12,000 20,000 15,000 $120,000 $123,000 Danske Company had total underapplied overhead of $18,000. Additional information is as follows: $72,000 41,000 Variable Overhead: Applied based on standard direct labor hours allowed Budgeted based on standard direct labor hours Fixed Overhead: Applied based on standard direct labor hours allowed Budgeted based on standard direct labor hours $60,000 30,000 Is the production volume variance favorable or unfavorable? Multiple Choice o Unfavorable O Favorable