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 7,400 hours. Variable costs: Indirect factory wages $23,680 Power and light 14,134 Indirect materials 11,914 Total variable cost $49,728 Fixed costs: Supervisory salaries $13,960 Depreciation of plant and equipment 35,800 Insurance and property taxes 10,920 Total faced cost 60,680 Total factory overhead cost $110,408 During October, the department operated at 7,800 standard hours, and the factory overhead costs incurred were indirect factory wages, $25,210, power and light, $14,630; indirect materials, $12,800; supervisory salaries, $13,960; depreciation of plant and equipment, $35,800; and insurance and property taxes, $10,920. Required: Prepare a factory overhead cost variance report for October, To be useful for cost control, the budgeted amounts should be based on 7,800 hours. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Round your per un 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 7,400 hrs. Actual production for the month 7,800 hrs. Budget Actual Favorable Variances Variable costs: Indirect factory wages Power and light Indirect materials Unfavorable Variances Total variable cost Fixed costs: Supervisory salaries Depreciation of plant and equipment Insurance and property taxes Total fixed cost Total factory overhead cost Total controllable vanances Net controllable variance unfavorable o Volume variance favorable Excess hours used over normal at the standard rate for fixed factory overhead Total factory overhead cost variance favorable