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 12,000 hours for production: Variable overhead costs: Indirect factory labor $38,400 8,640 Power and light Indirect materials 16,800 Total variable overhead cost $63,840 Fixed overhead costs: Supervisory salaries $55,630 Depreciation of plant and equipment Insurance and property taxes Total fixed overhead cost 14,640 27,330 97,600 Total factory overhead cost $161,440 Tannin has available 16,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 11,000 hours for production. The actual fixed costs were as budgeted The actual variable overhead for July was as follows: Actual variable factory overhead costs: Indirect factory labor Power and light Indirect materials Total variable cost $34,320 7,780 16,200 $58,300 Construct a factory overhead cost variance report for the Trim Department for July. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. If an amount box does not require an entry, leave it blank Round your interim computations to the nearest cent, if required. Productive capacity for the month 16,000 hrs. Actual productive capacity used for the month 11,000 hrs. Tannin Products Inc. Factory Overhead Cost Variance Report-Trim Department Line Item Description Variable factory overhead costs: Indirect factory labor Power and light For the Month Ended July 31 Budget Actual Cost (at Actual Unfavorable Favorable Production) Variances Variances Indirect materials Total variable factory overhead cost Fixed factory overhead costs: Supervisory salaries Depreciation of plant and equipment Insurance and property taxes Total fixed factory overhead cost Total factory overhead cost Total controllable variances Volume variance-unfavorable: 00000 34,320 X Previous