Tiger Equipment Inc., a manufacturer of construction equipment, prepared the following factory overhead cost budget for the Welding Depactment for May of the current year. The company expected to operate the department at 100% of normal capacity of 8,400 hours. indirect factory wages, $32,400; power and light, $21,000; indirect materials, $18,250; supervisory salaries, $20,000, depreciation of plant and equipment, $36,200, and insurance and property taxes, $15,200. Required: Prepare in foctory overhead cost vanance report for May. To be usefut for cost control, the budgetod amounts should be based on 8,860 hours. Enter a favorable variance as a negatuve number using a minus sion and an unfavorable variance as a posituve number, If an amount box does not require an entry, leave it blank. Tiger Equipment Inc. Factory Overhead Cost Variance Report-Weiding Department For the Month Ended May 31 Normal capacity for the month 8,400 hrs. Actual production for the month 8,860 hrs. Actual production for the month 8,860hrs