(Overhead Variance):The following information was taken from the records of Aklan Corporation that uses the three-way analysis for overhead variance:

Number of units actually produced 95,000 Total Overhead Spending Variance P 6,500 unfavorable Total Overhead Efficiency Variance 52,250 unfavorable Total Overhead Volume Variance 56,250 unfavorable Budgeted Machine Hours 250,000 Standard Machine Hours allowed on Actual 237,500 Production Actual Machine Hours 247,000 Total Actual Factory Overhead P 2,490,000