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 16,000 hours for production: Variable overhead costs: Indirect factory labor Power and light Indirect materials Total variable overhead cost Fixed overhead costs: Supervisory salaries Depreciation of plant and equipment Insurance and property taxes Total fixed overhead cost Indirect factory labor Power and light Indirect materials Total variable cost $40,000 12,320 20,800 $36,560 11,340 20,500 $68,400 $68,400 18,000 33,600 $73,120 Total factory overhead cost Tannin has available 20,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 15,000 hours for production. The actual fixed costs were as budgeted. The actual variable overhead for July was as follows: Actual variable factory overhead costs: 120,000 $193,120 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.