Tiger Equipment Inc., manufacturer of construction equipment repared the following factory overhead cost budget for the welding Department od Mary of the cent year. The company expected to operate the department at 100% of normal capacity of 8,400 hours Variable costs! Indirect factory wages $30,240 Power and light 20,160 Indirect matenals 16,800 Total variable cost 367,200 Fixed costs: Supervisory salaries Depreciation of plant and equipment $20,000 36,200 15,200 Insurance and property taxes Total fixed cost 71,400 $138,600 Total factory overhead cost During May, the department operated at 1,860 hours, and the factory overhead costs incurred were indirect factory wages, $32,400, come and lot 521.000, direct materials $18,250, supervisory salaries, $20,000: depreciation of plant and equipment, $36,200, and insurance and property taxes, 515,200, Requiredt Prepare a factory overhead cost variance report for May. To be useful for cost control the budgeted amounts should be based on 3,560 hours Enter a favorable variantas negative number using a minussion and an unfavorable vanance as a positive number. If an amount box does not require an entry leave it blank et le Normal capacity for the month 3,400 hes Actual production for the month 8,860 hrs. Actual Budget (at Actual Unfavorable Favorable Production) Variances Variances Variable factory overhead costs Indirect factory wages Power and light Indirect materials Total variable cost Fixed factory overhead costs: Supervisory salones Depreciation of plant and equipment Insurance and property taxes Dn D 100 QUOD DIODO QQ OL Total fixed cost D Total factory overhead cost Total controllable vanances Volume variance--favorable: Excess hours used over normal at the standard rate for fixed factory overhead