7. The Brown Bread Company bakes baguettes for distribution to upscale grocery stores. The company has The following is some budget data for the Brown Bread Company for 2020 and additional infomation for the year two direct-cost categories: direct materials and direct manufacturing labor. The Brown Bread Company allocates ended Decmeber 31,2020 : fixed manufacturing overhead to products on the basis of standard direct manufacturing labor-hours. For 2020 , fixed "(Click the icon to view the budget data.) manufacturing overhead was budgeted at $3.00 per direct manufacturing labor-hour. Actual fixed manufacturing (Click the icon to view the additional data.) overhead incurred during the year was $289,000. Read the recuirements 3. Requirement 1. Prepare a variance analysis of flxed manufacturing overhead cost. Begin by completing the table below for the fixed manufacturing overhead that will be used to calculate the variances. Requirement 2. Is fixed overhead underallocated or overallocated? By what armount? Flxed manufacturing overhead is by Requirement 3. Comment on your results. Discuss the varlances and explain what may be driving them. The production-volume varlance captures the difference between (5) Brown Bread Company's spending varlance means that the actual aggregate of flxed costs (6) the budget amount. For example, monthly leasing rates for baguette-making machines may have (7) those in the budget. 1: Data Table Direct manufacturing labor use 0.02 hours per baguette Variable manufacturing overhead $10.00 per direct manufacturing labor-hour 2: Data Table Planned (budgeted) output 3,300,000 baguettes Actual production 2,700,000 baguettes Direct manufacturing labor Actual variable manufacturing overhead $623,070 3: Requirements