Maple Leaf produced and sold 93,000 tires for $42 each. Budgeted production was 97,000 tires Standard variable costs per tire follow pounds at $2.00 S 8.00 640 2.25 . Direct labor: 0.40 hours at $16.00 16.65 Fixed production overhead costs Monthly budget $1,415,000 Fixed overhead is applied at the rate of $16 per tire. Actual production costs #5170 528,120 15,000 machine-hours at $15.80 per hour 237,000 1,438.000 Required: one Type here to search Variable overhead: 15,000 at $15.80 per hour 237,000 1,438,000 Required: a. Prepare a cost variance analysis for each of the variable costs for Maple Leaf Productions. (Indicate the effect of each variance b selecting "" for ta effect, do not select either option.) vorable, or " $ 666.400 Flexible budget Price variance vorable. If there is no effect, do n b. Prepare a fixed overhead cost variance analysis. (Indicate the effect of each variance by selecting "F" for tavorable, or "U" for unta . (Appendix) Prepare the journal entries to record the activity for the last period using standard oosting Assume hat al variancesare close to costof goods sold atthe end entry is required for a transaction/event, select "No journal entry required" in the first account field.) h O Type here to search Journal entry worksheet 2 3 4 5 67 8 12 Record entry for direct material costs payable and material variances. Note: Enter debits before credits. Event General Journal Debit Credit Clear entry O Type here to search