The Rye Bread Company bakes baguettes for ditribution to upscale grocery stores. The company has two direct-coel calegories. direct matenials and direct manufacturing labor. Variable The Rye Bread Company provides the following addibonal itaca for the year anded manutacturing ovethead is allocated to products on the basis of standard direct manufacturing December 31, 2020: laberhours. Following is some budget data for the Rye Bread Company? (Cick the ioon to view the addeconal datik.) (Ciok the icon to view the budget data.) Read the cefuicements. Requirement 1. What is the denominator level used for alocating variable manufacturing overheed? (That is, for how mary direct manufacturing laborhours is Ryo Brad budgetng?) The denominator level is hours: manufacturing Data table Data table Requirements 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?) 2. Prepare a variance analysis of variable manufacturing overhead. 3. Discuss the variances you have calculated and give possible explanations for them