The Quick 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 Quick Bread Company: (Click the icon to view the budget data.) Ine denominator level is hours. 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. Now complete the 4-variance analysis using the amounts you calculated above. (If no variance exists leave the dollar value blank. Label t variance (N).) Requirement 3. Discuss the variances you have calculated and give possible explanations for them. The spending variance is because variable manufacturing overhead was % than planned. A possible in energy rates relative to the rate per standard labor-hour assumed in the flexible budget. varience (N)-)