Factory Overhead Cost Variance Report Tiger Equipment lncy a manufacturer of construction equipment, prepared the following factory overhead cost budget for the Weiding Department for May of the current year. The company expected to operate the department at 100% of normal capscity of 8,400 hours. Durng May, the department operoted at 6,860 hours, and the foctory oveinead conts incurred were indirect factory wages, 532,400, power and bight, 521,000 ; indirect materials, $18,250; supervisony salaries, $20,000, depreciation of plant and nquipment, 536,200 ; and insurance and groperty tases, $15,200. Required: Prepare a factory overhead cost variance report for Moy. to be irefid foc cost control, the budgeled amounts should be based on 8. varionce as a negative number using a minus shgh and an unfavorable variance as a positive humber. If an amount box does not require ah entry, leave it blank. epare a factory overhead cost variance report for May. To be useful for cost control, the budgeted amounts should be bused on B,860 hours. Enter a favorable ariance as a negative number using a minus sign and an unfavorable variance as a positive number. If an amount box does not reguire an entry, leave it biank Total variable cost Fixed factory overhead costs: Supervisory salaries Depreciation of plant and equipment Insurance and property taxes Total ficed cost Total factory overhead cost Total controliable variances Wet controllable yariance-unfayorable ov Volume variance-favorable: Excess hours used over normal at the standard rate for foued factory overhead Tokal factory overhead cost yariance-favorable Factory Overhead Cost Variance Report Tiger Equipment lncy a manufacturer of construction equipment, prepared the following factory overhead cost budget for the Weiding Department for May of the current year. The company expected to operate the department at 100% of normal capscity of 8,400 hours. Durng May, the department operoted at 6,860 hours, and the foctory oveinead conts incurred were indirect factory wages, 532,400, power and bight, 521,000 ; indirect materials, $18,250; supervisony salaries, $20,000, depreciation of plant and nquipment, 536,200 ; and insurance and groperty tases, $15,200. Required: Prepare a factory overhead cost variance report for Moy. to be irefid foc cost control, the budgeled amounts should be based on 8. varionce as a negative number using a minus shgh and an unfavorable variance as a positive humber. If an amount box does not require ah entry, leave it blank. epare a factory overhead cost variance report for May. To be useful for cost control, the budgeted amounts should be bused on B,860 hours. Enter a favorable ariance as a negative number using a minus sign and an unfavorable variance as a positive number. If an amount box does not reguire an entry, leave it biank Total variable cost Fixed factory overhead costs: Supervisory salaries Depreciation of plant and equipment Insurance and property taxes Total ficed cost Total factory overhead cost Total controliable variances Wet controllable yariance-unfayorable ov Volume variance-favorable: Excess hours used over normal at the standard rate for foued factory overhead Tokal factory overhead cost yariance-favorable
