The following information related to a given deparinert of Menh Company for the first quarter of 2015: Actual total overhead (fixed plus variable) P178.500 Budget formula: Total FOH Cost = P110,000 P0.50/hr Total overhead application rate P1.50 per hear Spending variance (from three-way analysis) P8,000 unfavoratie Volume variance (from two-way analysis) P5.000 tavorable