The Brown 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. B (Click the icon to view the budget data for 2017.) Click the icon to view the additional data for 2017.) The Brown 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 $3.00 per direct manufacturing labor-hour. Actual fixed manufacturing overhead incurred during the year was $298,000. Read the requirements DHE 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 Regardless of Flexible Allocated Incurred Output Level Budget Overhead Fixed MOH $ 298,000 $ 220,000 $ 220.000 S 180,000 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 Analysis Fixed MOH Spending Variance Efficiency Variance Production Volume Variance manufacturin - Data table Requirements Planned (budgeted) output 3,800,000 baguettes Actual production 3,000,000 baguettes Direct manufacturing labor 54,400 hours Actual variable manufacturing overhead $739,840 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. es. Print Done Print Done I X vorable (U) or never a variance (N).) Data table ance Spending Efficiency sis Variance Variance Direct manufacturing labor use 0.02 hours per baguette Variable manufacturing overhead $10.00 per direct manufacturing labor-hour Print Done