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 8,000 hours for production: Variable overhead costs: Indirect factory labor $20,800 Power and light 6,080 Indirect materials 11,200 Total variable overhead cost $38,080 Fixed overhead costs: $36,940 Supervisory salaries Depreciation of plant and equipment 9,720 Insurance and property taxes 18,140 Total fixed overhead cost 64,800 Total factory overhead cost $102,880 Tannin has available 12,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 7,000 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 $17,750 Power and light 5,220 Indirect materials 10,300 Total variable cost $33,270 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 12,000 hrs. Actual productive capacity used for the month 7,000 hrs. Budget Actual Cost (at Actual Production) Variable factory overhead costs: Indirect factory labor Unfavorable (Favorable) Variances 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 O Volume variance-unfavorable: Idle hours at the standard rate for fixed factory overhead