Beacon Company manufactures various types of plastic and rubber coated tubing products for various industries. Standard cost accounting system is used. The following are available: Actual total overhead P44,000 Budgeted fixed costs P12,600 Total overhead application rate per standard direct labor hour P2.50 Actual hours used 16,000 Standard hours allowed 17,000 Normal activity in hours 14,000 The company uses a two-way analysis of overhead variances. The controllable variance of Beacon Company is O P1,500 favorable. OP4,200 unfavorable. O P1,500 unfavorable. OP4,200 favorable