Factory Overhead Cost Variance Report Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for July of the current year, during which it expected to use 18,000 hours for production: Variable overhead cost:         Indirect factory labor $43,200       Power and light 12,960       Indirect materials 28,800         Total variable overhead cost   $ 84,960 Fixed overhead cost:         Supervisory salaries $62,700       Depreciation of plant and equipment 16,500       Insurance and property taxes 30,800         Total fixed overhead cost   110,000 Total factory overhead cost   $194,960 Tannin has available 22,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 17,000 hours for production. The actual fixed costs were as budgeted. The actual variable overhead for July was as follows: Actual variable factory overhead cost:   Indirect factory labor $39,780 Power and light 12,020 Indirect materials 28,600 Total variable cost $80,400 Construct a factory overhead cost variance report for the Trim Department for July. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. If an amount box does not require an entry, leave it blank. Round your interim computations to the nearest cent, if required. Tannin Products Inc. Factory Overhead Cost Variance Report-Trim Department For the Month Ended July 31 Productive capacity for the month 22,000 hrs.         Actual productive capacity used for the month 17,000 hrs.           Actual Budget (at actual production) Unfavorable Variances Favorable Variances Variable factory overhead costs:         Indirect factory labor $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 $fill in the blank 4 Power and light fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 8 Indirect materials fill in the blank 9 fill in the blank 10 fill in the blank 11 fill in the blank 12 Total variable factory overhead cost $fill in the blank 13 $fill in the blank 14     Fixed factory overhead costs:         Supervisory salaries $fill in the blank 15 $fill in the blank 16     Depreciation of plant and equipment fill in the blank 17 fill in the blank 18     Insurance and property taxes fill in the blank 19 fill in the blank 20     Total fixed factory overhead cost $fill in the blank 21 $fill in the blank 22     Total factory overhead cost $fill in the blank 23 $fill in the blank 24     Total controllable variances     $fill in the blank 25 $fill in the blank 26         $fill in the blank 28           Idle hours at the standard rate for fixed factory overhead       fill in the blank 30         $fill in the blank 32

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Factory Overhead Cost Variance Report

Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for July of the current year, during which it expected to use 18,000 hours for production:

Variable overhead cost:    
    Indirect factory labor $43,200  
    Power and light 12,960  
    Indirect materials 28,800  
      Total variable overhead cost   $ 84,960
Fixed overhead cost:    
    Supervisory salaries $62,700  
    Depreciation of plant and equipment 16,500  
    Insurance and property taxes 30,800  
      Total fixed overhead cost   110,000
Total factory overhead cost   $194,960

Tannin has available 22,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 17,000 hours for production. The actual fixed costs were as budgeted. The actual variable overhead for July was as follows:

Actual variable factory overhead cost:  
Indirect factory labor $39,780
Power and light 12,020
Indirect materials 28,600
Total variable cost $80,400

Construct a factory overhead cost variance report for the Trim Department for July. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. If an amount box does not require an entry, leave it blank. Round your interim computations to the nearest cent, if required.

Tannin Products Inc.
Factory Overhead Cost Variance Report-Trim Department
For the Month Ended July 31
Productive capacity for the month 22,000 hrs.        
Actual productive capacity used for the month 17,000 hrs.        
  Actual Budget (at actual production) Unfavorable Variances Favorable Variances
Variable factory overhead costs:        
Indirect factory labor $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 $fill in the blank 4
Power and light fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 8
Indirect materials fill in the blank 9 fill in the blank 10 fill in the blank 11 fill in the blank 12
Total variable factory overhead cost $fill in the blank 13 $fill in the blank 14    
Fixed factory overhead costs:        
Supervisory salaries $fill in the blank 15 $fill in the blank 16    
Depreciation of plant and equipment fill in the blank 17 fill in the blank 18    
Insurance and property taxes fill in the blank 19 fill in the blank 20    
Total fixed factory overhead cost $fill in the blank 21 $fill in the blank 22    
Total factory overhead cost $fill in the blank 23 $fill in the blank 24    
Total controllable variances     $fill in the blank 25 $fill in the blank 26
        $fill in the blank 28
         
Idle hours at the standard rate for fixed factory overhead       fill in the blank 30
        $fill in the blank 32
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