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ABC Company uses the equation P300,000 + P1.75 per direct labor hour to budget manufacturing overhead. ABC has budgeted 125,000 direct labor hours for the

ABC Company uses the equation P300,000 + P1.75 per direct labor hour to budget manufacturing overhead. ABC has budgeted 125,000 direct labor hours for the year. Actual results were 110,000 direct labor hours, P297,000 fixed overhead, and P194,500 variable overhead. What is the fixed overhead volume variance for the year?

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