CoursHeroTranscribedText: The manager of the Coco Corporation has determined that it typically takes 30 minutes for the department's employees to attend a client's requirements. The following predetermined overhead costs are applicable: Fixed overhead, computed on an estimated 4,000 direct labor hours, P8 per dlh. Variable overhead is estimated at P3 per direct labor hour. During July, 7,600 cars were registered, taking 3,700 direct labor hours. For the month, variable overhead was P10,730 and fixed overhead was P29,900. Instruction: Determine the following: 1. Overhead variance using the twovariance approach 2. Overhead variance using a threevariance approach