ABC Company has a budgeted normal monthly capacity of 5,000 labor hours with a standard production of 4,000 units at this capacity. Standard costs are: Materials Labor Factory overhead at normal capacity Fixed expenses Variable expenses 2 kilos at P1.00 per kilo P 7.75 per hour P 7,500.00 P 1.50 per hour During May, 2021, actual factory overhead total P14,820 and 4,940 labor hours cost P37,050. Production during May was 3,800 units using 7,800 kilos of materials at a cost of P0.98 per kilo.