(1) with excel solutions please

1 pts D Question 1 The following standards for variable overhead have been established for a company that makes only one product: Standard labor-hour per unit of output 8.5 hours Standard labor rate P15.00 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 8,000 hours Actual total labor cost P128,000 Actual output 1,000 units What is the variable overhead rate variance for the month? OP 7.500 F OP 8,000 U OP 7,500 U OP 8,000 F