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 $4.00 ($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: Variable factory overhead controllable variance: Actual variable factory overhead cost incurred $68,300 Budgeted variable factory overhead for 30,000 hours 69,000 Variance-favorable $(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 x $4.00 Variance-unfavorable 4,000 Total factory overhead cost variance-unfavorable $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 Fixed Factory Overhead Volume Variance Total Factory Overhead Cost Variance