A manufacturing company has a standard costing system based on standard machine-hours (MHs) as the measure of activity. Data from the company's flexible budget for manufacturing overhead are given below:

Denominator level of activity 6,300 MHs Overhead costs at the denominator activity level: Variable overhead cost P34,020 Fixed overhead cost P120,960 The following data pertain to operations for the most recent period: Actual hours 6,800 MHs Standard hours allowed for the actual output 6,384 MHs Actual total variable overhead cost P38,080 Actual total fixed overhead cost P122,710

73. What is the predetermined overhead rate to the nearest cent? A) P22.79 B) P24.60 C) P25.52 D) P23.65 74. How much overhead was applied to products during the period to the nearest peso? A) P154,980 B) P157,046 C) P167,280 D) P160,790 75. What was the variable overhead spending variance for the period to the nearest peso? A) P4,060 F B) P4,060 U C) P1,360 U D) P1,360 F 76. What was the variable overhead efficiency variance for the period to the nearest peso? A) P2,330 U B) P2,246 U C) P4,060 U D) P1,277 F 77. What was the fixed overhead budget variance for the period to the nearest peso? A) P137 F B) P1,750 U C) P7,850 U D) P7,507 F 78. What was the fixed overhead volume variance for the period to the nearest peso? A) P9,600 F B) P7,987 U C) P1,613 F D) P1,615 U