Hi guys, these are practice questions for the final. The final will use the same format as the practice questions. Please include your worksheets and explanations, Excel spreadsheets, and anything that will show how to replicate what you have done. I don't have many tutor credits and little money, but I sincerely appreciate your help. I need the answers by 3/26/17

3/23/2017 3. Assignment Print View Award: 8.34 points Maxwell Company uses a standard cost accounting system and applies production overhead to products on the basis of machine hours. The following information is available for the year just ended: Standard variableoverhead rate per hour: $7.90 Standard fixedoverhead rate per hour: $13.20 Planned activity during the period: 26,000 machine hours Actual production: 15,700 finished units Machinehour standard: Two completed units per machine hour Actual variable overhead: $202,920 Actual total overhead: $558,030 Actual machine hours worked: 26,700 Required: 1. Calculate the budgeted fixed overhead for the year. 2. Compute the variableoverhead spending variance. 3. Calculate the company's fixedoverhead volume variance. 4a. Did Maxwell spend more or less than anticipated for fixed overhead? How much? 4b. What was the difference in actual and anticipated overhead? 5. Was variable overhead underapplied or overapplied during the year? By how much? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4A Required 4B Required 5 Did Maxwell spend more or less than anticipated for fixed overhead? Maxwell spent than anticipated. previous next References Worksheet Difficulty: 2 Medium Learning Objective: 1105 Compute and interpret the variableoverhead spending and efficiency variances and the fixedoverhead budget and volume variances. http://ezto.mheducation.com/hm.tpx?todo=c15SinglePrintView&singleQuestionNo=3.&postSubmissionView=13252705367542743&wid=13252705367469788&ro... 1/1 3/23/2017 3. Assignment Print View Award: 8.34 points Maxwell Company uses a standard cost accounting system and applies production overhead to products on the basis of machine hours. The following information is available for the year just ended: Standard variableoverhead rate per hour: $7.90 Standard fixedoverhead rate per hour: $13.20 Planned activity during the period: 26,000 machine hours Actual production: 15,700 finished units Machinehour standard: Two completed units per machine hour Actual variable overhead: $202,920 Actual total overhead: $558,030 Actual machine hours worked: 26,700 Required: 1. Calculate the budgeted fixed overhead for the year. 2. Compute the variableoverhead spending variance. 3. Calculate the company's fixedoverhead volume variance. 4a. Did Maxwell spend more or less than anticipated for fixed overhead? How much? 4b. What was the difference in actual and anticipated overhead? 5. Was variable overhead underapplied or overapplied during the year? By how much? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4A Required 4B Required 5 What was the difference in actual and anticipated overhead? Fixedoverhead budget variance previous next References Worksheet Difficulty: 2 Medium Learning Objective: 1105 Compute and interpret the variableoverhead spending and efficiency variances and the fixedoverhead budget and volume variances. http://ezto.mheducation.com/hm.tpx?todo=c15SinglePrintView&singleQuestionNo=3.&postSubmissionView=13252705367542743&wid=13252705367469788&ro... 1/1 3/23/2017 3. Assignment Print View Award: 8.34 points Maxwell Company uses a standard cost accounting system and applies production overhead to products on the basis of machine hours. The following information is available for the year just ended: Standard variableoverhead rate per hour: $7.90 Standard fixedoverhead rate per hour: $13.20 Planned activity during the period: 26,000 machine hours Actual production: 15,700 finished units Machinehour standard: Two completed units per machine hour Actual variable overhead: $202,920 Actual total overhead: $558,030 Actual machine hours worked: 26,700 Required: 1. Calculate the budgeted fixed overhead for the year. 2. Compute the variableoverhead spending variance. 3. Calculate the company's fixedoverhead volume variance. 4a. Did Maxwell spend more or less than anticipated for fixed overhead? How much? 4b. What was the difference in actual and anticipated overhead? 5. Was variable overhead underapplied or overapplied during the year? By how much? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4A Required 4B Required 5 Was variable overhead underapplied or overapplied during the year? By how much? (Do not round intermediate calculations.) Variable overhead is by previous next References Worksheet Difficulty: 2 Medium Learning Objective: 1105 Compute and interpret the variableoverhead spending and efficiency variances and the fixedoverhead budget and volume variances. http://ezto.mheducation.com/hm.tpx?todo=c15SinglePrintView&singleQuestionNo=3.&postSubmissionView=13252705367542743&wid=13252705367469788&ro... 1/1