PWM and tone

So, with the tone() I can adjust the tone of any pin:
tone(13,600) produces a tone of 600 hz at pin 13;
Okay, but if I set the tone to a PWM pin (11,10,9,6,5 or 3) and I adjust both the analogue output and tone will it happen:
Like this:

analogWrite(11,127);
tone(11,900);

Will these produce a tone of 900 hz and half power (because 127 is 1/2 of 255) at pin 11?

You can't use PWM and tone on the same pin, so, no.

Using the tone function requires a timer that turns the pin on and off at the desired frequency.

Using the timer means that it will not be available for the PWM functionality to use, so you will lose the ability to PWM two pins. Which two depends on which timer tone uses.

Nooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo

And how will I be able to adjust the volume then?
Thank you anyway.

JMD1:
And how will I be able to adjust the volume then?

With additional external circuitry.