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 $68,300 Fixed factory overhead 49,700 Standard: 30,000 hrs. at $4 ($2.30 for variable factory overhead) 120,000 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 $119,300. Based on these data, the chief cost accountant prepared the following variance analysis: Variable factory overhead controllable variance: Actual variable factory overhead cost incurred Budgeted variable factory overhead for 30,000 hours Variance-favorable Fixed factory overhead volume variance: $68,300 (69,000) $(700) Normal productive capacity at 100% 28,900 hrs. Standard for amount produced (30,000) 1,100 hrs. Productive capacity not used Standard variable factory overhead rate Variance-unfavorable x $4 4,400 Total factory overhead cost variance-unfavorable $3,700 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 -700 Favorable Fixed Factory Overhead Volume Variance Favorable Total Factory Overhead Cost Variance -1,300 X Favorable