Cenino E wor has jst purchased the Clovelns Brewery The brewery is 2 yoars old and uses absorption costing it wil "Seir is product to Fortune Lager at 545 per barte : Peler Bryant, Fortune Lager's controker, oblains the following inlormation abceut Cloveland Breswerys capacily and budgeted fixed manufocturing costs for 2020 fclick fre iron to vew the intomation) chas in tequitinnts equirement 1, Compule the budgebyd frod manufacturing overhead tate per barrei for each of the denominator-tevel capacily concepts. Explain why they are ditterent? Requirements 1. Compute the budgeted fixed manufacturing overhead rate per barrel for each of the denominator-level capacity concepts. Explain why they are different. 2. In 2020, the Cleveland Brewery reported these production results: There are ... vunavio cusi vanances. Fixea manutacturing overhead cost variances are written off to cost of goods sold in the period in which they occur. Compute the Cleveland Brewery's operating income when the denominator-level capacity is (a) theoretical capacity, (b) practical capacity, and (c) normal capacity utilization. Data table