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. The Rye Bread Company allocates fixed manufacturing overhead to products on the basis of standard direct manufacturing labor-hours. For 2020, fixed manufacturing overhead was budgeted at $3.00 per direct manufacturing labor-hour. Actual fixed manufacturing overhead incurred during the year was $284,000. -- X 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 $691,380 Print Done nanec Cor more han aa Data table Direct manufacturing labor use 0.02 hours per baguette Variable manufacturing overhead $10.00 per direct manufacturing labor-hour Print Done 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 Print Done Lump Sum Regardless of Output Level Actual Costs Incurred Flexible Allocated Overhead Budget Fixed MOH