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Factory Overhead Cost Variance Report Feeling Better Medical Inc., a manufacturer of disposable medical supplies, prepared the following factory overhead cost budget for the Assembly Department for October of the current year. The company expected to operate the department at 100% of normal capacity of 7,500 hours. Variable costs: Indirect factory wages $23,250 15,225 Power and light Indirect materials 12,225 Total variable cost $50,700 Fixed costs: Supervisory salaries $15,350 39,380 Depreciation of plant and equipment Insurance and property taxes 12,020 Total fixed cost 66.750 Total factory overhead cost $117,450 During October, the department operated at 8.000 standard hours, and the factory overhead costs incurred were Indirect factory wages, $25,050, power and light, $15.950; indirect materials, 513,300; supervisory salaries, 515,350; depreciation of plant and equipment, $39,380; and Insurance and property taxes, $12,020 Required: Prepare a factory overhead cost variance report for October. To be useful for cost control the budgeted amounts should be based on 8,000 Hours Enter a favorable variance as a negative number using a minussion and an unfavorable variance as a positive number Round your per unit computations to the nearest cent, if required. If an amount box does not require an entry, leave it blank. Feeling Better Medical Inc. Factory Overhead Cost Variance Report-Assembly Department For the Month Ended October 31 Normal capacity for the month 7,500 hrs. Actual production for the month 8,000 hrs. Budget Actual (at Actual Cost Production) Variable factory overhead costs: Indirect factory wages Power and light Unfavorable Favorable Variances Variances Indirect materials