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 7,900 hours. Variable costs: Indirect factory wages $22,910 Power and light 17,222 Indirect materials 14,062 Total variable cost $54,194 Fixed costs: Supervisory salaries $14,540 Depreciation of plant and equipment 37,290 Insurance and property taxes 11,370 Total fixed cost 63,200 Total factory overhead cost $117,394 During May, the department operated at 8,400 standard hours. The factory overhead costs incurred were indirect factory wages, $24,600; power and light, $17,980; indirect materials, $15,300; supervisory salaries, $14,540; depreciation of plant and equipment, $37,290; and insurance and property taxes, $11,370. Required: Prepare a factory overhead cost variance report for May. To be useful for cost control, the budgeted amounts should be based on 8,400 hours. Enter a favorable 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. Tiger Equipment Inc. -Welding nanartment Check My Work Previous All work saved Save and Exit Submit Assignment for Grading Support_EX19_CS9...CSV Support_EX19_C..accdb Instructions_NP_....docx NP_EX19_12b_Br....xIsm NP_EX19_12b_Br....xIsm Show all T W 1:32 PM 4/23/2022 1ams | Cor X . Assignments - ACC121-D6B-Spri x CengageNOWv2 | Online teachin x X Mathway | Algebra Problem Solv( X + ngagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false (Up Normal capacity for the month 7,900 hrs. Actual production for the month 8,400 hrs. Actual Budget Unfavorable Variances Favorable Variances 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 100000 Total fixed cost Total factory overhead cost Total controllable variances Excess hours used over normal at the standard rate for fixed factory overhead Previous Check My Work ns All work saved. Save and Exit Submit Assignment for Grading NP_EX19_12b_Br..xIsm Show all X Support_EX19_C..accdb Instructions_NP_..docx NP_EX19_12b_Br...xIsm ...xIsm Support_EX19_CS9...CSV 1:32 PM 4/23/2022