Factory Overhead Cost Variance Report Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for July of the current year, during which it expected to use 18,000 hours for production: Variable overhead costs: Indirect factory labor $61,200 Power and light 13,860 Indirect materials 25,200 $ Total variable overhead cost 100,260 Fixed overhead costs: $63,950 Supervisory salaries Depreciation of plant and equipment 16,830 Insurance and property taxes 31,420 Total fixed overhead cost 112,200 Total factory overhead cost $212,460 Tannin has available 22,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 17,000 hours for production. The actual fixed costs were as budgeted. The actual variable overhead for July was as follows: Actual variable factory overhead costs: Actual variable factory overhead costs: Indirect factory labor Power and light $56,360 12,850 25,000 Indirect materials Total variable cost $94,210 Construct a factory overhead cost variance report for the Trim Department for July. Enter all amounts as positive numbers. If an amount box does not require an entry, leave it blank. Round your interim computations to the nearest cent, if required. Tannin Products Inc. Factory Overhead Cost Variance Report-Trim Department For the Month Ended July 31 Productive capacity for the month 22,000 hrs. Actual productive capacity used for the month 17,000 hrs. Budget (at actual Actual Favorable production) Variances Variable factory overhead costs: Indirect factory labor Unfavorable Variances Power and light Indirect materials Total variable factory overhead cost Fixed factory overhead costs: Actual productive capacity used for the month 17,000 hrs. Budget (at actual production) Actual Favorable Variances Unfavorable Variances Variable factory overhead costs: Indirect factory labor Power and light Indirect materials Total variable factory overhead cost Fixed factory overhead costs: Supervisory salaries Depreciation of plant and equipment Insurance and property taxes Total fixed factory overhead cost $ Total factory overhead cost Total controllable variances Idle hours at the standard rate for fixed factory overhead