The Boston Bread Company bakes baguettes for distribution to upscale grocery stores. The company has two direct-cost categories: direct materials and direct manufacturing labor. The Boston Bread Company allocates fixed manufacturing overhead to products on the basis of standard direct manufacturing labor-hours. For 2020, fixed manufacturing overhead was budgete at $4.00 per direct manufacturing labor-hour. Actual fixed manufacturing overhead incurred durin the year was $298,000. 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 cal Fixed MOH Actual Costs Incurred Same Budgeted Lump Sum Regardless of Output Level Flexible Budget Allocated Overhead

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Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.