Exercise $21-21($Algo$)$ Volume variance LO P$4$

Shaw Company produced $740$ units. Its overhead allocation base is DLH and its standard amount per allocation base is $8$ DLH per unit. Its standard overhead rate is $$10$ per DLH$.$ The flexible overhead budget at an activity level of $740$ units shows $$29,000$ in variable overhead costs and $$33,000$ in fixed overhead costs. Compute the volume variance.

Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.