Factory Overhead Cost Variance Report Tiger Equipment Inc., a manufacturer of construction equipment, prepared the following factory overhead cost budget for the Welding Department for May of the current year. The company expected to operate the department at 100% of normal capacity of 8,400 hours Variable costs: Indirect factory wages $30,240 Power and light 20,160 Indirect materials 16,800 Total variable cost $67,200 Foxed costs Supervisory salaries $20,000 Depreciation of plant and equipment 35,200 Insurance and property taxes 15,200 Total fixed cost 71,400 Total factory overhead cost $138,600 During May, the department operated at 8,560 hours, and the factory overhead costs incurred were indirect factory wages 532,400) power and Sght, 521,000 indirect materos, 518,250, supervisory salaries, 320,000, depreciation of plant and equipment, 536 200; and insurance and property taxes, 535,200 Required: Prepare a factory overhead coat Variance report for May to be set for cost control the budget amounts should be based on 360 hours Enter a favor once os 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 to