The White 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 the basis of standard direct manufacturing labor-hours overhead is allocated to products on (Click the icon to view the budget data for 2017.) (Click the icon to view the additional data for 2017.) The White 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 $297,000 Read the requirements Requirement 1. Prepare a variance analysis of fixed manufacturing overhead cost Begin by completing the table below for the fixed manufacturing overhead that will be used to calculate the variances Same Budgeted Fixed MOH Lump Sum Actual Costs Incurred Regardless of Output Level Flexible Allocated Budget Overhead Data table IS e fi ame Lu Ren Direct manufacturing labor use Variable manufacturing overhead 0.02 hours per baguette $10.00 per direct manufacturing labor-hour Print Done Data table Planned (budgeted) output 3,600,000 baguettes Actual production 2,800,000 baguettes Direct manufacturing labor 50,900 hours Actual variable manufacturing overhead $687,150 Print Done ution to upscale grocery stores. (Click the icon to view the additional data for 2017.) 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