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 8,000 hours. Variable costs: Indirect factory wages $25,600 16,720 Power and light Indirect materials 14,320 Total variable cost $56,640 Fixed costs: $14,720 Supervisory salaries Depreciation of plant and equipment Insurance and property taxes 37,760 11,520 Total fixed cost 64,000 $120,640 Total factory overhead cost During October, the department operated at 8,500 standard hours. The factory overhead costs incurred were indirect factory wages, $27,470; power and light, $17,450; Indirect materials, $15,500; supervisory salaries, $14,720; depreciation of plant and equipment, $37,760; and insurance and property taxes, $11,520. Required: Prepare a factory overhead cost variance report for October. To be useful for cost control, the budgeted amounts should be based on 8,500 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. 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 Ending October 31 Productive capacity for the month 8,000 hrs. Actual production for the month 8,500 hrs. Actual Favorable Variances Budget Unfavorable Variances Variable factory overhead costs: $ 27.470 S X $ Indirect factory wages 17,450 Power and light 15,500 s Indirect materials 60,420 Total variable factory overhead cost 14,720 $ 14,720 Fixed factory overhead costs: Supervisory salaries 37,760 37,760 Depreciation of plant and equipment 11.520 11,520 Insurance and property taxes 64.000 $ 64,000 Total fixed factory overhead cost Total variable factory overhead cost $ 60,420 Fixed factory overhead costs: Supervisory salaries 14,720 $ 14,720 Depreciation of plant and equipment 37,760 37,760 Insurance and property taxes 11,520 11,520 Total fixed factory overhead cost 64,000 $ 64,000 124,420 $ Total factory overhead cost Total controllable variances Excess hours used over normal at the standard rate for fixed factory overhead Feedback Check My Work factory nyerhead cost variance report is useful to management in controlling factory overhead costs. Budgeted and actual costs for variable and fixed factory overhead along with the related