Herman Company, which applies overhead to production on the basis of machine hours, reported the following data for the period just ended: Actual units produced: 13,000 Actual fixed overhead incurred: P742,000 Standard fixed overhead rate: P15 per hour Budgeted fixed overhead: P720,000 Planned level of machine-hour activity: 48,000

If it takes four hours to manufacture a completed unit, the company's fixed-overhead budget variance would be?