The White Bread Company provides the following additional data for the year ended December 31, 2017: (Click the icon to view the additional data.) 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 overhead is allocated to products on the basis of standard direct manufacturing labor-hours. Following is some budget data for the White Bread Company: (Click the icon to view the budget data.) Read the requirements. Requirement 1. What is the denominator level used for allocating variable manufacturing overhead? (That is, for how many direct manufacturing labor-hours is White Bread budgeting?) The denominator level is 58,000 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 th variances. Actual Input Actual Costs X Flexible Allocated Incurred Budgeted Rate Overhead Budget 58,000 Variable MOH 13.9 206,700 Data table - Data table w many direct m 2,900,000 baguettes 2,900,000 baguettes Direct manufacturing labor use Variable manufacturing overhead 0.02 hours per baguette $10.00 per direct manufacturing labor-hour Planned (budgeted) output Actual production Direct manufacturing labor Actual variable manufacturing overhead 53,000 hours $736,700 Print Done Print Done Requirements 1. What is the denominator level used for allocating variable manufacturing overhead? (That is, for how many direct manufacturing labor-hours is White Bread budgeting?) 2. Prepare a variance analysis of variable manufacturing overhead. 3. Discuss the variances you have calculated and give possible explanations for them