Please show detailed help with steps and solution, there is only one question here, so please don't report it for multiple questions :

Eastern Company uses a standard cost system in which manufacturing overhead is applied to units of product on the basis of standard direct labor-hours (DLHs). The denominator activity level is 60,000 direct labor-hours, or 300,000 units.The capacity is 400,000 units or 80,000 labor hours A standard cost card for the company's product follows :

Direct Materials : Standard Quantity or Hours : 0.25 Kilogram Standard Price or Rate : $16 per kilogram Standard Cost :$4

Direct Labor : Standard Quantity or Hours : 0.20 Direct Labor Hours Standard Price or Rate : $10 per direct labor hour

Standard Cost : $2

Variable Overhead : Standard Quantity or Hours : 0.20 Direct Labor Hours Standard Price or Rate : $5 per direct labor hour Standard Cost : $1

Fixed Overhead : Standard Quantity or Hours : 0.20 Direct Labor Hours Standard Price Or Rate : $10 per direct labor hour Standard Cost : $2

Actual data for the year follow:

Units produced and sold ................................................. 330,000

Actual direct labor-hours worked ................................... 64,800

Actual variable manufacturing overhead cost .................. $327,240

Actual fixed manufacturing overhead cost ..................... $612,000

Question : Compute the fixed overhead volume variance

Answer was -60,000 Favorable but I don't get how or why