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Factory Qverhead Variance Corrections The cata related to Shunda Enterprises Inc's foctory overhead cost for the production of 100,000 units of product are as foliows: Actual: Variable factory overhead $458,000 Fixed factory overhead Standardi 132,000 hrs. at $7.30 (\$3.50 for varlable factory overhead) 494,000 963,600 Productive capacity at 100% of normal was 130,000 bours, and the factory overhead cost budgeted at the level of 132,000 standard hours was $956,000. Based on these data, the chief cost accountant prepared the following variance analysis: Variable factory overhead controllable variance: Actual variable factory overhead cost incurred Budgeted variable factory overhead for 132,000 hours $458,900 Variance-favorable 462,000 $(4,000) Fixed factory overhead volume variance: Normal productive capacity ot 100% Standard for amount produced 130,000 hrs: Productive capacity not used Standard variable factory overhead rate 132,000 Variance - unfavorable Total factory overhead cost variance-unfavorable 2,000 hrs. $7.30 Compute the following to assist you in identifying the errors in the facfory overhead cost variance analysis. thter a favorabie variance as a negative number using a minus sign and an unfavorable variance as a positive number. Round your interim computations to the nearest cent, if required. Variance Amount Faverable/Unfaverable Fxed Factory Overhead Volume Variance 5. 4,000x Favorable 7,600 Favoratide + Eompute the following to assist you in identifying the errors in the factory overhead cost variance analysis, Enter a favorable variance as a negative number using a min ign and an unfavorable variance as a positive namber, Round your interim computations to the nearest cent, if required. * check My Wans The variable factory overhead controllable variance is the difference between the actual variable overhead costs and the budgeted variable overhead for actual preduction. The fixed factory overheso volume-variance is the difference between the budgeted fixed overhead at roo\% of normal capacity and the standard fixed overhea for the actual units produced