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 12,000 hours for production: Variable overhead cost: Indirect factory labor $33,600 Power and light 8,760 Indirect materials 13,200 Total variable overhead cost $ 55,560 Fixed overhead cost: $51,070 Supervisory salaries Depreciation of plant and equipment 13,440 Insurance and property taxes 25,090 Total fixed overhead cost 89,600 Total factory overhead cost $145,160 Tannin has available 16,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 11,000 hours for production. The actual fixed costs were as budgeted. The actual variable overhead for July was as follows: Actual variable factory overhead cost: Indirect factory labor $30,030 Power and light 7,890 Indirect materials 12,700 Total variable cost $50,620 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 16,000 hrs. Actual productive capacity used for the month 11,000 hrs. Actual Budget (at actual production) Unfavorable Variances Favorable 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 $ jim in mini in Insurance and property taxes Total fixed factory overhead cost $ Total factory overhead cost $ Total controllable variances 0 $ Idle hours at the standard rate for fixed factory overhead