Question: Use the information below to answer the two questions that follow: Maxima Corp. uses a standard cost system with machine-hours as the activity base

Use the information below to answer the two questions that follow: Maxima

Use the information below to answer the two questions that follow: Maxima Corp. uses a standard cost system with machine-hours as the activity base for both variable and fixed manufacturing overhead (VMOH & FMOH). The following information relates to production for last year: Variable $14,000 $15,400 $15,800 Fixed Total budgeted overhead (at the denominator level of activity) Total applied overhead Total actual overhead $35,200 $31,800 The actual machine-hours incurred were 2,300. VMOH Efficiency Variance was $700 Unfavorable. Q. What was Maxima's VMOH Spending Variance? ANS. $ (Click to select) Q. What was Maxima's FMOH Volume Variance? ANS. $ |(Click to select)

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