Overhead Rate per hr. 10,000 18,000 24,000 Utilities P1.40 P14,000 P25,200 P33,600 Supplies 0.20 2,000 3,600 4,800 Maintenance 1.20 12,000 21,600 28,800 Miscellaneous 0.80 8,000 14 ,400 19,200 Last month, the company worked for 16,000 machine hours and incurred the following costs: Utilities P21,000 Supplies 3,500 Maintenance 19,700 Miscellaneous 12,400 Required: 1. Compute the variable overhead spending variance. 2. Compute the variable overhead efficiency variance. 3. Prepare a variable overhead performance report for the period. Indicate whether variances are favorable (F) or unfavorable (U). Show only the spending variance on your report