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: $7.80 Standard fixed-overhead rate per hour: $13.00 Planned activity during the period: 24,000 machine hours Actual production: 14,700 finished units Machine-hour standard Two completed units per machine hour ->0.5 Actual variable overhead: $196,100 Actual total overhead: $543,250 Actual machine hours worked: 26,500 Required: 1. Calculate the budgeted fixed overhead for the year. 2. Compute the variable-overhead spending variance. 3. Calculate the company's fixed-overhead volume variance. 4-a. Did Maxwell spend more or less than anticipated for fixed overhead? 4-b. What was the difference in actual and anticipated overhead? 5. Was variable overhead underapplied or overapplied during the year? By how much