Tiger Equipment Inc., a manufacturer of construction equipment, prepared the following factory overhead cost budget for the Welding Department for May of the current year. The company expected to operate the department at 100% of normal capacity of 7,200 hours. During May, the department operated at 7,600 standard hours. The factory overhead costs incurred were indirect factory wages, $22,260; power and light, $16,790; indirect materials, $14,300; supervisory salaries, $13,740; depreciation of plant and equipment, $35,260; and insurance and property taxes, $10,760. Required: Prepare a factory overhead cost variance report for May. To be useful for cost control, the budgeted amounts should be based on 7,600 hours. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Round your per if required. If an amount box does not require an entry, leave it blank. For the Month Ended May 31 Normal capacity for the month 7,200 hrs. Actual production for the month 7,600 hrs. Total controllable variances Net controllable variance-favorable Volume variance-favorable: Excess hours used over normal at the standard rate for fixed factory overhead Total factory overhead cost variance-favorable