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: $7.50

Standard fixed-overhead rate per hour: $12.60

Planned activity during the period: 21,000 machine hours

Actual production: 13,200 finished units

Machine-hour standard: Two completed units per machine hour

Actual variable overhead: $156,200

Actual total overhead: $437,800

Actual machine hours worked: 22,000

Required: 1. Calculate the budgeted fixed overhead for the year. 2. Compute the variable-overhead spending variance. 3. Calculate the companys 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?