Week 8 Assignment: Greenview Hospital operated at 120% of normal capacity in two of its departments during the year. It operated 120% times 20,000 normal capacity direct labor nursing hours in routine services and it operated 120% times 20,000 normal capacity equipment hours in the laboratory. The lab allocates overhead by measuring minutes and hours the equipment is used; thus equipment hours. Assumptions: For Routine Services Nursing: _ 20,000 hours X 120% = 24,000 direct labor nursing hours. _ Budgeted Overhead at 24,000 hours = $42,000 fixed plus $6,000 variable = $48,000 total. _ Actual Overhead at 24,000 hours = $42,000 fixed plus $7,000 variable = $49,000 total. _ Applied Overhead for 24,000 hours at $2.35 = $56,400. For Laboratory: _ 20,000 hours X 120% = 24,000 equipment hours. _ Budgeted Overhead at 24,000 hours = $59,600 fixed plus $11,400 variable = $71,000 total. _ Actual Overhead at 24,000 hours = $59,600 fixed plus $11,600 variable = $71,200 total. _ Applied Overhead for 24,000 hours at $3.455 = $82,920. Questions: 1. Set up a worksheet for applied overhead costs and volume variance with a column for Routine Services Nursing and a second column for Laboratory. 2. Set up a worksheet for actual overhead costs and budget variance with a column for Routine Services Nursing and a second column for Laboratory. 3. Set up a worksheet for volume variance and budget variance totaling net variance with a column for Routine Services Nursing and a second column for Laboratory. 4. Insert input data from Assumptions. 5. Complete computations for all three worksheets. * Please answer the 5 questions in a comprehensive manner. Please message me if you have any questions or concerns. Please use proper grammar and punctuation in your solutions *