Bestman Clothing Company uses direct labor hours method for applying manufacturing overhead. The overhead application rate for 2021 is P8.60 per hour, based on the anticipated fixed costs of P348,000 and anticipated variable costs of P684,000, with anticipated volume of 120,000 labor hours.During the year, the company actually operated for 115,800 hours, incurring fixed overhead of P348,000 and variable overhead of P637,880. How much is the under or over applied FOH for the year? 1 point Your answer Bestman Clothing Company uses direct labor hours method for applying manufacturing overhead. The overhead application rate for 2021 is P8.60 per hour, based on the anticipated fixed costs of P348,000 and anticipated variable costs of P684,000, with anticipated volume of 120,000 labor hours. During the year, the company actually operated for 115,800 hours, incurring fixed overhead of P348,000 and variable overhead of P637,880. How much is the fixed volume variance? 1 point Your answer