How can the var_dump() function be used to troubleshoot variable values in PHP code, and what insights can it provide in this situation?

To troubleshoot variable values in PHP code, the var_dump() function can be used to display the type and value of a variable. This can help identify unexpected or incorrect values assigned to variables during execution, allowing for easier debugging and problem-solving.

```php
$variable = "Hello, world!";
var_dump($variable);
```

In this code snippet, the var_dump() function is used to display the type and value of the variable $variable, helping to troubleshoot any issues related to its value.