The Rye 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 Rye 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 $286,000. 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. Data table Direct manufacturing labor use Variable manufacturing overhead 0.02 hours per baguette $10.00 per direct manufacturing labor-hour Print Done Help me solve this Etext pages Get more help Data table Planned (budgeted) output 3,200,000 baguettes Actual production 2,800,000 baguettes Direct manufacturing labor 50,100 hours Actual variable manufacturing overhead $671,340 X Print Done Clear all Check