The Rye Bread Company bakes baguettes for distribution to upscale grocery stores. The company has two The following is some budget data for the Rye Bread Company for 2020 and additional infomation direct-cost categories: direct materials and direct manufacturing labor. The Rye Bread Company allocates for the year ended Decmeber 31, 2020: fixed manufacturing overhead to products on the basis of standard direct manufacturing labor-hours. For 2020 , fixed manufacturing overhead was budgeted at $4.00 per direct manufacturing labor-hour. Actual (Click the icon to view the budget data.) fixed manufacturing overhead incurred during the year was $289,000. (Click the icon to view the additional data.) Read the Requirement 1. Prepare a variance analysis of fixed manufacturing overhead cost. Requirements Begin by completing the table below for the fixed manufacturing overhead that will be used to calculate the variances. 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