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 6,800 hours. Variable costs: Indirect factory wages Power and light $19,720 13,736 11,696 $45,152 Indirect materials Total variable cost Fixed costs: Supervisory salaries $13,450 Depreciation of plant and equipment Insurance and property taxes 34,500 10,530 Total fixed cost Total factory overhead cost 58,480 $103,632 During May, the department operated at 7,200 standard hours. The factory overhead costs incurred were indirect factory wages, $21,090; power and light, $14,280; indirect materials, $12,600; supervisory salaries, $13,450; depreciation of plant and equipment, $34,500; and insurance and property taxes, $10,530. Required: Prepare a factory overhead cost variance report for May. To be useful for cost control, the budgeted amounts should be based on 7,200 hours. Enter a favorabiei variance as a negative number using a minus sign and an unfavorable variance as a positive number. Round your per unit computations to the nearest cent, if required. If an amount box does not require an entry, leave it blank. Normal capacity for the month 6,800 hrs. Actual production for the month 7,200 hrs. Variable costs: Indirect factory wages Power and light Indirect materials Total variable cost Fixed costs: Supervisory salaries Depreciation of plant and equipment Insurance and property taxes Total fixed cost Total factory overhead cost Total controllable variances Tiger Equipment Inc. Factory Overhead Cost Variance Report-Welding Department For the Month Ended May 31 Excess hours used over normal at the standard rate for fixed factory overhead Actual Budget Unfavorable Variances Favorable Variances 00000 00 100 0