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:

Line Item Description	Amount
Actual: Variable factory overhead	$68,300
Fixed factory overhead	49,700
Standard: 30,000 hrs. at $4.00 ($2.30 for variable factory overhead)	120,000

Productive capacity at 100% of normal was 29,000 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:

Line Item Description	Amount	Amount
Variable factory overhead controllable variance:
Actual variable factory overhead cost incurred	$68,300
Budgeted variable factory overhead for 30,000 hours	(69,000)
Variancefavorable		$(700)
Fixed factory overhead volume variance:
Normal productive capacity at 100%	29,000 hrs.
Standard for amount produced	(30,000)
Productive capacity not used	1,000 hrs.
Standard variable factory overhead rate	$4.00
Varianceunfavorable		4,000
Total factory overhead cost varianceunfavorable		$3,300

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	FavorableUnfavorable
Fixed Factory Overhead Volume Variance	$fill in the blank 3	FavorableUnfavorable
Total Factory Overhead Cost Variance	$fill in the blank 5	FavorableUnfavorable