Factory Overhead Variance Corrections

The data related to Shunda Enterprises Inc.$$s factory overhead cost for the production of $20,000$ units of product are as follows:

Actual: Variable factory overhead $$121,800$

Fixed factory overhead $86,900$

Standard: $30,000$ hrs$.$ at $$7($$$4\mathrm{.}10$ for variable factory overhead$)210,000$

Productive capacity at $100\%$ of normal was $28,900$ hours, and the factory overhead cost budgeted at the level of $30,000$ standard hours was $$208,700.$ Based on these data, the chief cost accountant prepared the following variance analysis:

Variable factory overhead controllable variance:

Actual variable factory overhead cost incurred $$121,800$

Budgeted variable factory overhead for $30,000$ hours $(123,000)$

Variance$$favorable $$(1,200)$

Fixed factory overhead volume variance:

Normal productive capacity at $100\%28,900$ hrs$.$

Standard for amount produced $(30,000)$

Productive capacity not used $1,100$ hrs$.$

Standard variable factory overhead rate x $$7$

Variance$$unfavorable $7,700$

Total factory overhead cost variance$$unfavorable $$6,500$

Compute the following to assist you in identifying the errors in the factory overhead cost variance analysis. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Round your interim computations to the nearest cent, if required.

Variance Amount Favorable$/$Unfavorable

Variable Factory Overhead Controllable Variance $fill in the blank $1$

Fixed Factory Overhead Volume Variance $fill in the blank $3$

Total Factory Overhead Cost Variance