ebook Print tom Factory Overhead Cost Variance Report Tiger Equipment Inc, a manufacturer of construction equipment, prepared the following factory overhead cost budget for the Welding Department for May of the current year. The company expected to operate the department at 100% of normal capacity of 5,100 hours Variable costs Indirect factory wages $16,320 Power and light 10,098 Indirect materials 8.058 Total variable cost $34,476 Fixed costs: Supervisory salaries $9,270 Depreciation of plant and equipment 23,770 Insurance and property taxes 7.250 Total fixed cost 40,290 Total factory overhead cost 574,766 During May, the department operated at 5,400 standard hours. The factory overhead costs incurred were Indirect factory wages, 517,450; power and light, 510,500 Indirect materials, $8,700; supervisory salarys, 99,270; depreciation of plant and equipment, $23,770; and insurance and property taxes, 37,250 Required: Prepare a factory overhead cost variance report for May. To be useful for cost control, the budgeted amounts should be based on 5.400 hours, Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Round your per unit computations to the nearest cent, if required. 17 an amount box does not require an entry, leave it blank Previous Next > Check Work we remaining For the Month Ended May 31 Normal capacity for the month 5,100 hrs Actual production for the month 5,400 hrs. Actual Budget Unfavorable Variances Favorable Variances Variable costs: Indirect factory wages Power and light Indirect materials Total variable cost Fixed costs: Supervisory salaries Depreciation of plant and equipment Insurance and property taxes bin juli bin ini Total fixed cost Total factory overhead cost Total controllable variances 1 Excess hours used over normal at the standard rate for fixed factory overhead