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 58,000

What is the fixed overhead volume variance?

Multiple Choice
$20,000 U
$20,000 F
$10,000 U
$10,000 F
Group Ends