The Wonderful Bread Inc. allocates FMOH to products on the basis of standard direct manufacturing labour hours. For the year, FMOH was budgeted at $3 20 per direct manufacturing labour-hour (DMLH). Actual fixed manufacturing overhead (FMOH) incurred during the year was $321,600 Click icon to view additional data.) Required 1. Prepare a variance analysis of FMOH costs. 2. Is fixed overhead under-or overallocated? By how much? 3. Comment on your results. Discuss the various variances, and explain what may be driving them Begin by calculating the following amounts for the fixed manufacturing overhead (Round interim calculations to soven decimal places. Round your final answers to the nearest whole dollar.) Flexible Budget: Same Budgeted Same Budgeted Lump Sum Lump Sum Actual Costs Regardless of Regardless of Allocated Incurred Output Level Output Level Overhead 321600 Clear all Check answer Calculator Baguettes are baked in batches of 90 loaves. Following are some pertinent data for Wonderful Bread Inc.: Direct manufacturing labour use 1.75 DMLH per batch Fixed manufacturing overhead $3.20 per DMLH Wonderful Bread Inc. recorded the following additional data for the year ended December 31: Planned (budgeted) output 3,880,000 baguettes Actual production 3,400,000 baguettes Direct manufacturing labour 50,200 DMLH Actual fixed MOH $321,600 Round your final answers to the Incorr ud le Print Done