Factory Overhead Variance Corrections The data related to Shunda Enterprises Inc.'s factory overhead cost for the production of 100,000 units of product are as follows: Actual: Variable factory overhead $458,000 Fixed factory overhead 494,000 Standard: 132,000 hrs. at $7.30 ($3.50 for variable factory overhead) 963,600 Productive capacity at 100% of normal was 130,000 hours, and the factory overhead cost budgeted at the level of 132,000 standard hours was $956,000. Based on these data, the chief cost accountant prepared the following variance analysis: Variable factory overhead controllable variance: Actual variable factory overhead cost incurred $458,000 Budgeted variable factory overhead for 132,000 hours 462,000 Variancefavorable $ (4,000) Fixed factory overhead volume variance: Normal productive capacity at 100% 130,000 hrs. Standard for amount produced 132,000 Productive capacity not used 2,000 hrs. Standard variable factory overhead rate x $7.30 Varianceunfavorable 14,600 Total factory overhead cost varianceunfavorable $10,600 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: $ 4,000 Favorable Fixed Factory Overhead Volume Variance: $ 7,600 Favorable Total Factory Overhead Cost Variance: $ 11,600 Favorable