The production records of Prince Company for the month of June shows the following: Total Manufacturing Cost Variance P 3,840 U Rate Variance 8,710 F Total material cost variance 2,975 U Total Labor cost variance 4,200 F 2,125 U Price variance Other Data: The company paid P0.10 more than the standard price. Three pieces of materials are required per unit of product. An over absorbed capacity of 100 units of product was noted when actual production was compared with the normal volume of 6,900 units. Payroll showed total labor cost of P183,680. Workers are usually paid at an average of P4.40, though the records showed that the company paid less than this during the month. Standard overhead rate amounts to P5 per direct labor hours, 40% of which is fixed. 40% of the Actual Overhead is fixed. Required: The budgeted fixed overhead based on normal production.