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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

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 variable-overhead rate per hour: $7.90

Standard fixed-overhead rate per hour: $13.20

Planned activity during the period: 26,000 machine hours

Actual production: 15,700 finished units

Machine-hour standard: Two completed units per machine hour

Actual variable overhead: $202,920

Actual total overhead: $558,030

Actual machine hours worked: 26,700

  1. What is the budgeted fixed overhead for the year.
  2. What is the variable-overhead spending variance.
  3. What is the company's fixed-overhead volume variance.

4-a.How is Fraser spending more or less than anticipated for fixed overhead? How much?

4-b.What was the difference in actual and anticipated overhead?

5.Was variable overhead underapplied or overapplied during the year? By how much?

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