Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for July of the current year, during which it expected to use 25,000 hours for production: 1 Variable overhead cost 2 Indirect factory labor Power and light . Indirect materials $ Total variable overhead cost Fixed overhead cost $52,500.00 12,500.00 25,000.00 $90,000.00 7 Supervisory salaries $52,400.00 Depreciation of plant and equipment 39,200.00 $ Insurance and property taxes 163,400.00 10 Total fixed overhead cost 11 Total factory overhead cost 255,000.00 $345,000.00 Tannin has available 30,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 27,000 hours for production. The actual fixed costs were as budgeted. The actual variable overhead for July was as follows: Tannin has available 30,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 27,000 hours for production. The actual fixed costs were as budgeted. The actual variable overhead for July was as follows: Actual variable factory overhead cost. 2 Indirect factory labor 3 Power and light " Indirect materials Total variable cost $55,770.00 13,270.00 29,700.00 $98,740.00 Required: Construct a factory overhead cost variance report for the Trim Department for July. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number Amount Descriptions Amount Descriptions Volume variance-favorable Volume variance-unfavorable Depreciation of plant and equipment Indirect factory labor Indirect materials Insurance and property taxes Net controllable variance-favorable Net controllable variance-unfavorable Power and light Supervisory salaries Total controllable variances Total factory overhead cost Total factory overhead cost variance-favorable Total factory overhead cost variance-unfavorable Total fixed factory overhead cost Total variable factory overhead cost Construct a factory overhead cost variance report for the Trim Department for July. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Tannin Products Inc. Factory Overhead Cost Variance Report-Trim Department For the Month Ended July 311 1 Productive capacity for the month 2 Actual productive capacity used for the month 30,000 hours 27,000 hours $ Budget (at actual production) Variances: Variances: Actual Favorable Unfavorable s Variable factory overhead costs . 1 " 30 Fixed factory overhead costs 11 13 3 14 Budget (at actual Variances: Variances: Actual production) Favorable Unfavorable 5 Variable factory overhead costs: . 10 Fixed factory overhead costs: 11 2 12 23 14 15 16 27 18 19 20