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. Following is some budget data for the Rye Bread Company: The Rye Bread Company provides the following additional data for the year ended December 31, 2017 EEB (Click the icon to view the additional data.) Read the requirements EEB (Click the icon to view the budget data.) Requirement 1. What is the denominator level used for allocating variable manufacturing overhead? (That is, for how many direct manufacturing labor-hours is Rye Bread budgeting?) 74,000 hours The denominator level is Requirement 2. Prepare a variance analysis of variable manufacturing overhead Begin by calculating the following amounts for the variable overhead that will be used to calculate the variances Actual Input Actual Costs Flexible Allocated Budget Overhead Incurred Budgeted Rate Variable MOH Enter any numher in the edit fields and then click Check Answer Requirements Data Table 1. What is the denominator level used for allocating variable manufacturing overhead? (That is, for how many direct manufacturing labor-hours is Rye Bread budgeting?) Planned (budgeted) output 3,700,000 baguettes Actual production 2,400,000 baguettes 2. Prepare a variance analysis of variable manufacturing overhead Direct manufacturing labor 42,600 hours 3. Discuss the variances you have calculated and give possible explanations for them $575,100 Actual variable manufacturing overhead PrintDone PrintDone Requirement 2. Prepare a varian Begin by calculating the folowgData Table Actual Cos Direct manufacturing labor use 0.02 hours per baguette Incurred Variable manufacturing overhead $ 10.00 per direct manufacturing labor-hour Variable MOH Print Done