Factory Overhead Variance Corrections The data related to Shunda Enterprises Inc.'s factory overhead cost for the production of 60,000 units of product are as follows: Actual: Variable factory overhead -$369,400 Fored factory overhead 263,700 Standard: 91,000 hrs, at $7 ($4.10 for variable factory overhead) 637,000 Productive capacky at 100% of normal was 90,000 hours, and the factory overhead cost budgeted at the level of 91,000 standard hours was $633,200. Based on these data, the chief cost accountant prepared the following variance analysis: Variable factory overhead controllable variance: Actual variable factory overhead cost incurred $369,400 Budgeted variable factory overhead for 91,000 hours (373,100) Variance--favorable 3(3.700) Fixed factory overhead volume variance Normal productive capacity of 10 100% 90.000 hrs Standard for amount produced (91,000) Productive capacity not used 1,000 hrs Standard variable factory overhead rate Variance-unfavorable 7,000 Total factory overhead cost variance--unfavorable 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 X$7 $3,300 Amount Favorable/Unfavorable Variance Variable Factory Overhead Controllable Varance Fixed Factory Overhead Volume Variance Total Factory Overhead Cost Variance