The Boston Bread Company bakes baguettes for distribution to upscale grocery stores. The company has two direct-cost categories: direct materials and direct manufacturing labor. Variable manufacturing overhead is allocated to products on the basis of standard direct manufacturing labor-hours. (Click the icon to view the budget data for 2017.) (Click the icon to view the additional data for 2017.) The Boston Bread Company also allocates fixed manufacturing overhead to products on the basis of standard direct manufacturing labor-hours. For 2017, fixed manufacturing overhead was budgeted at $4.00 per direct manufacturing labor-hour. Actual fixed manufacturing overhead incurred during the year was $295,000 Read the requirements Requirement 1. Prepare a variance analysis of Tixea manuraciuning overneao cos Bogin completing the table below for the fixed manufacturing overticad that will be used to calculate the variances. Same Budgeted Lump Sum Actual Costs Regardless of Flexible Allocated Incurred Output Level Budget Overhead Fixed MOH 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 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 V Boston Bread Company's spending variance means that the actual aggregate of fixed costs those in the budget. ements equirements 1. Prepare a variance analysis of fixed manufacturing overhead cost. 2. Is fixed overhead underallocated or overallocated? By what amount? 3. Comment on your results. Discuss the variances and explain what may be driving them. Data Table table Direct manufacturing labor use 0.02 hours per baguette Variable manufacturing overhead $10.00 per direct manufacturing labor-hour Data Table vala etable Planned (budgeted) output 3,400,000 baguettes Actual production 2,700,000 baguettes Direct manufacturing labor 48,100 hours Actual variable manufacturing overhead $644,540