Tiger Equipment Inc a manufacturer o construction equipment, prepared the o ng factory ove eac cost budget for he welding e ar ment tor May o the current year. The company expected to operate the department at 10 % o no a ca ac y O 8.700 hours. TIGER EQUIPMENT INC Factory Overhead Cost Budget-Welcing Department For the Month Ended May 31 L Variable costs Indirect factory wages Power and light 44,370.00 21,750.00 17400.00 Indirect materials Total variable cost 83,520.00 Fioxed costs Supervisory salaries Dereciation of plant and equipment Insurance and 19,200.00 5,200.00 19,550.00 property taxes 0 Total fixed cost 3,950.00 11 Total factory overhead cost $157470.00 During May, the department operated at 9,120 standard hours, and the factory overmead costs incurred were indirect factory wapes, $47,092; power and light, $22,500; indirect materials, $18,850 supervisory salaries, 519,200; depreciation of plant and equipment, $35,200; and insurance and property taxes, $19,550 Amount Descriptions Depreciation of plant and equipment Indirect factory wages 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 Volume variance-favorable Volume variance-unfavorable Prepare a factory overhead cost variance report for May. To be useful for cost control, the budgstsd amounts shouid be based on 8,860 hours Refer to the Amount Descriptions list providsd for the exact wording of the answer choices for text entries Enter all variances as positive amounts TIER EQUIPMENT INC Score: 49/174 Factory Overnead Cost Budge- Wel ding Department For the Month Ended May 31 Productive capacity for the month 8,700 hours Actual production for the month 9,120 hours Varlances: Budget (at Actual Production) Varlances: Actual FavorableUnfavorable iable factory overhead costs Indirect factory wages Power and light Indirect materials 7 Indirect mater Total variable factory overhead cost Foed factory overhead costs Supervisory salaries Depreciation of plant and equipment Insurance and property taxes Total fioxed factory overhead cost