The Granary Bread Company bakes baguettes for distribution to upscale grocery stores. The company has two direct-cost categories: direct materials and direct manufacturing labor. The Granary Bread Company allocates fixed manufacturing overhead to products on the basis of standard direct manufacturing labor-hours For 2014, the following is some budget data for the Granary Bread Company: Direct manufacturing labor use 0.02 hours per baguette Fixed manufacturing overhead $4 00 per direct manufacturing labor-hour The Granary Bread Company provides the following additional data for the year ended December 31. 201 Planned (budgeted) output 3, 400.000 baguettes Actual production 3, 300.000 baguettes Budgeted direct manufacturing labor 68,000 hours Actual direct manufacturing labor 60, 900 hours Actual fixed manufacturing overhead $294,000 Read the requirements1. Requirement 1.L 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. 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).)