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 17,000 hours for production: Variable overhead costs: Indirect factory labor $56,100 Power and light 12,920 Indirect materials 22,100 Total variable overhead cost $91,120 Fixed overhead costs: Supervisory salaries $59,850 Depreciation of plant and equipment 15,750 Insurance and property taxes 29,400 Total fixed overhead cost 105,000 Total factory overhead cost $196, 120 Tannin has available 21,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 16,000 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 $51,480 Power and light 11,940 Indirect materials 21,800 Total variable cost 585,220 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 21,000 hrs Actual productive capacity used for the month 16,000 hrs. Budget Unfavorable (Favorable) Actual Cost (at Actual Production) Variances 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 Din ini Total factory Overhead cost Total controllable variances ID Supervisory salaries Depreciation of plant and equipment Insurance and property taxes Total fixed factory overhead cost Total factory overhead cst Total controllable variances Volume variance unfavorable Idie hours at the standard rate for fixed factory overhead