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 11,000 hours for production: Variable overhead costs: Indirect factory labor $30,800 Power and light 7,920 Indirect materials 18,700 Total variable overhead cost $57,420 Fixed overhead costs: Supervisory salaries $51,300 Depreciation of plant and equipment 13,500 Insurance and property taxes 25,200 Total fixed overhead cost 90,000 Total factory overhead cost $147,420 Tannin has available 15,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 10,000 hours for production. The actual fixed costs were as budgeted. The actual variable overhead for July was as follows: Actual variable factory overhead costs: Indirect factory labor $27,300 Power and light 7,070 Indirect materials 17,900 Total variable cost $52,270 Construct a factory overhead cost variance report for the Trim Department for July. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. 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 15,000 hrs. Actual productive capacity used for the month 10,000 hrs. Budget Actual Cost (at Actual Production) Variable factory overhead costs: Indirect factory labor Unfavorable Variances (Favorable) Variances $ 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 Volume variance-unfavorable: Idle hours at the standard rate for fixed factory overhead op