The Granary Bread Company bakes baguettes for distribution to upscale grocery stores. The The following is some budget data for the Granary Braad Company for 2020 and compamy has two direct-oost calepoles: direct matoriaks and direct manufacturing labor. The additional infomstion far the year ended Decmeber 31, 20ed:Granary Bread Company alocates food manutacturing overhead to products on the busis of (Click the icon to viow the budgnt data) standard direct manutacturing Labor-hours. For 2020, fored manulacturing overtwead was budgeted at $500 per dirnct manulacturing tabor-hour. Actual food manutacturing overhead incurred during (Click the icon to view the addtionat data) the yoar was $250.000. Read the mquirements- Requirement 1. Prepare a variance analysis of fored manufacturing overhead coet: Begin by complestg the table below for the fixed manufacturing overhead that wil be used to calculate the variances. Data table Data table Requirements 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