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 12,000 hours for production:Variable overhead costs: Indirect factory labor$36,000 Power and light9,120 Indirect materials19,200 Total variable overhead cost $64,320Fixed overhead costs: Supervisory salaries$50,160 Depreciation of plant and equipment13,200 Insurance and property taxes24,640 Total fixed overhead cost 88,000Total factory overhead cost $152,320Tannin has available 16,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 11,000 hours for production. The actual fixed costs were as budgeted. The actual variable overhead for July was as follows:Actual variable factory overhead costs: Indirect factory labor$32,180Power and light8,210Indirect materials18,500 Total variable cost$58,890Construct 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 DepartmentFor the Month Ended July 31 Productive capacity for the month 16,000 hrs.Actual productive capacity used for the month 11,000 hrs.Budget(at Actual Production)Unfavorable(Favorable)Actual CostVariancesVariancesVariable factory overhead costs:Indirect factory labor33,000 xPower and lightIndirect materialsTotal variable factory overhead costFixed factory overhead costs:Supervisory salariesDepreciation of plant and equipmentInsurance and property taxesTotal fixed factory overhead costTotal factory overhead costTotal controllable variancesNet controllable variance-favorableVolume variance-unfavorable:Idle hours at the standard rate for fixed factory overheadTotal factory overhead cost variance-unfavorable Total variable cost$58,890Construct 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 unfavorablevariance 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 DepartmentFor the Month Ended July 31Productive capacity for the month 16,000 hrs.Actual productive capacity used for the month 11,000 hrs.Unfavorable (Favorable)Budget(at Actual Production)Actual CostVariancesVariancesVariable factory overhead costs:Indirect factory labor33,000X $Power and lightIndirect materialsTotal variable factory overhead costFixed factory overhead costs:Supervisory salariesDepreciation of plant and equipmentInsurance and property taxesTotal fixed factory overhead costTotal factory overhead cost

Name: Tannin Products Inc. prepared the following factory overhead cost budg
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Description: 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 12,000 hours for production:Variable overhead costs: Indirect factory labor$36,000 Power a

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 12,000 hours for production: Variable overhead costs: Indirect factory labor $36,000 Power and light 9,120 Indirect materials 19,200 Total variable overhead cost $64,320 Fixed overhead costs: Supervisory salaries $50,160 Depreciation of plant and equipment 13,200 Insurance and property taxes 24,640 Total fixed overhead cost 88,000 Total factory overhead cost $152,320 Tannin has available 16,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 11,000 hours for production. The actual fixed costs were as budgeted. The actual variable overhead for July was as follows: Actual variable factory overhead costs: Indirect factory labor $32,180 Power and light 8,210 Indirect materials 18,500 Total variable cost $58,890 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 Repo

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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 12,000 hours for production:

Variable overhead costs:
Indirect factory labor	$36,000
Power and light	9,120
Indirect materials	19,200
Total variable overhead cost		$64,320
Fixed overhead costs:
Supervisory salaries	$50,160
Depreciation of plant and equipment	13,200
Insurance and property taxes	24,640
Total fixed overhead cost		88,000
Total factory overhead cost		$152,320

Tannin has available 16,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 11,000 hours for production. The actual fixed costs were as budgeted. The actual variable overhead for July was as follows:

Actual variable factory overhead costs:
Indirect factory labor	$32,180
Power and light	8,210
Indirect materials	18,500
Total variable cost	$58,890

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 DepartmentFor the Month Ended July 31

Productive capacity for the month 16,000 hrs.
Actual productive capacity used for the month 11,000 hrs.
Budget
(at Actual Production)
Unfavorable
(Favorable)
Actual Cost
Variances
Variances
Variable factory overhead costs:
Indirect factory labor
33,000 x
Power and light
Indirect materials
Total variable factory overhead cost
Fixed factory overhead costs:
Supervisory salaries
Depreciation of plant and equipment
Insurance and property taxes
Total fixed factory overhead cost
Total factory overhead cost
Total controllable variances
Net controllable variance-favorable
Volume variance-unfavorable:
Idle hours at the standard rate for fixed factory overhead
Total factory overhead cost variance-unfavorable

Total variable cost
$58,890
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 16,000 hrs.
Actual productive capacity used for the month 11,000 hrs.
Unfavorable (Favorable)
Budget
(at Actual Production)
Actual Cost
Variances
Variances
Variable factory overhead costs:
Indirect factory labor
33,000
X $
Power and light
Indirect materials
Total variable factory overhead cost
Fixed factory overhead costs:
Supervisory salaries
Depreciation of plant and equipment
Insurance and property taxes
Total fixed factory overhead cost
Total factory overhead cost

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Tannin Products Inc.
Factory Overhead Cost Variance Report-Trim Department
For the Month Ended July 31
Productive capacity for the month 16,000 hrs.
Actual productive capacity used for the month 11,000 hrs.
Particulars	Actual	Budget (At actual prodcution)	UnFavorable variances	Favorable Variances
Variable factory overhead costs:
Indirect factory labor	32180	33000		-820
Power and light	8210	8360		-150
Indirect materials	18500	17600	900
Total variable factory overhead cost	58890	58960
Fixed factory overhead costs:
Supervisory salaries	50160	50160
Depreciation of plant and equipment	13200	13200
Insurance and property taxes	24640	24640
Total fixed factory overhead cost	88000	88000
Total factory overhead cost	146890	146960
Total controllable variances			900	-970
Net controllable variance-Favorable			-70
Volume variance-unfavorable
Idle hours at the standard rate for fixed factory overhead ($88000/16000*5000)			27500
Total factory overhead cost variance-unfavorable			27570

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