Maple Leaf Production manufactures truck tires. The following information is available for the last operating period.

• Maple Leaf produced and sold 96,000 tires for $46 each. Budgeted production was 100,000 tires.
• Standard variable costs per tire follow.

Direct materials: 4 pounds at $2.00	$	8.00
Direct labor: 0.40 hours at $16.50		6.60
Variable production overhead: 0.12 machine-hours at $15 per hour		1.80
Total variable costs	$	16.40

• Fixed production overhead costs:

Monthly budget $1,415,000

• Fixed overhead is applied at the rate of $15.00 per tire.
• Actual production costs:

Direct materials purchased and used: 394,000 pounds at $1.70	$	669,800
Direct labor: 37,500 hours at $16.80		630,000
Variable overhead: 12,000 machine-hours at $15.40 per hour		184,800
Fixed overhead		1,416,000

Required: a. Prepare a cost variance analysis for each variable cost for Maple Leaf Productions. b. Prepare a fixed overhead cost variance analysis. c. (Appendix) Prepare the journal entries to record the activity for the last period using standard costing. Assume that all variances are closed to cost of goods sold at the end of the operating period.

Prepare a cost variance analysis for each variable cost for Maple Leaf Productions. (Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)

	Direct Materials		Direct Labor		Variable Overhead
Actual costs
Actual inputs at standard price
Flexible budget
Price variance
Efficiency variance
Cost variance

Prepare a fixed overhead cost variance analysis. (Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)

Total fixed overhead cost variance

(Appendix) Prepare the journal entries to record the activity for the last period using standard costing. Assume that all variances are closed to cost of goods sold at the end of the operating period. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)