Requirement 3 options in order of required.

The Sourdough Bread Company bakes baguettes for distribution to upscale grocery stores. The company has two direct-cost categories: direct materials and direct manufacturing labor. The Sourdough Bread Company allocates fixed manufacturing overhead to products on the basis of standard direct manufacturing labor-hours. For 2020, fixed manufacturing overhead was budgeted at $3.00 per direct manufacturing labor-hour. Actual fixed manufacturing overhead incurred during the year was $294,000. The following is some budget data for the Sourdough Bread Company for 2020 and additional infomation for the year ended Decmeber 31, 2020: (Click the icon to view the budget data.) (Click the icon to view the additional data.) Read the requirements. Requirement 1. Prepare a variance analysis of fixed manufacturing overhead cost. Begin by completing the table below for the fixed manufacturing overhead that will be used to calculate the variances. Same Budgeted Lump Sum Actual Costs Flexible Allocated Regardless of Output Level Incurred Budget Overhead Fixed MOH Data table Direct manufacturing labor use Variable manufacturing overhead 0.02 hours per baguette $10.00 per direct manufacturing labor-hour Print Done Data table Planned (budgeted) output 3,100,000 baguettes Actual production 2,600,000 baguettes Direct manufacturing labor 46,800 hours Actual variable manufacturing overhead $617,760 Print Done Now complete the 4-variance analysis using the amounts you calculated above. (If no variance exists leave the dollar value blank. Label the variance as favorable (F), unfavorable (U) or never a variance (N).) 4-Variance Spending Efficiency Production-Volume Analysis Variance Variance Variance Fixed MOH Requirement 2. Is fixed overhead underallocated or overallocated? By what amount? Fixed manufacturing overhead is by overallocated underallocated Requirement 3. Comment on your results. Discuss the variances and explain what may be driving them. The production-volume variance captures the difference between the budget amount. For example, monthly leasing rates for baguette-making machines may have Sourdough Bread Company's spending variance means that the actual aggregate of fixed costs those in the budget. the actual overhead costs incurred and the actual output. the budgeted labor hours and the actual labor hours used. the number of budgeted baguettes and the actual number of baguettes produced. exceeds is lower than decreased below increased above