Tiger Equipment Inc, a manufacturer of construction equipment, prepared the following fectory overtiead cost budget for the Welding Department for May of the current yeac. The company expected to operste the department at 100% of normal capacity of 8,200 hours. Ouring May, the department operated at 8,700 standard hours. The factory overhead costs incurred were indirect foctory wages, 52.6,360; power and $9 ht, 127,770 . indirect materiah, $14,900; supervisory salaries, $14,150; depreciation of plant and equipment, $36,290; and insurance and property taves, $11,060. Required: Prepare a factory overhead cost variance report for May. To Be useful for cost control, the budgeted amounts should be bayed on s, 700 hours. Enter a favorable variance as a negative number usang a minus sign and an unfavorable variance as a. positive number. Round your per unit computations to the nearest cent. if required. If -n amnint hax dees not reguire an entr, leave it blank. Factory Overhead Cost Variance Report-Weiding Department For the Month Ended May 31 Normal capacity for the month 8,200 hrs. Actual production for the month 8.700hm. Actual Budget Unfavorable Variances Favorable Variances Variable costs: Indifect factory wages Power and light Indirect materials Fotal variable cont Fixed costs: Supervisory salaries Depreciation of ptant and eguipment Imurance and property tames Fotal fixed cost Total factory overhead cost Total controtiable variances Wolume yanance fmarable: o fxcess heurs used over normal at the standard rate for fixed factory overhead