Maple Leaf Production manufactures truck tires. The following information is avaliable for the last operating period. Maple Leaf produced and sold 96,000 tires for $51 each. Budgeted production was 100,000 tires. Standard variable costs per tire follow. Direct materials: 4 pounds at $2.00 Direct labor: 0.30 hours at $15.00 Variable production overhead: 0.30 machine-hours at $19 per hour Total variable costs $ 8.00 4.50 5.70 $18.20 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: 390,000 pounds at $1.80 Direct labori 22,000 hours at $15.30 Variable overhead 30,000 machine-hours at $19.30 per hour Fixed overhead $ 702,000 336,600 579,000 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. (Annendi Prepare the lournal entries to record the activity for the Instneriod using standard costino. Assume that all variances are Direct materiale purchased and used 390,000 pounds at $1.80 Direct labori 22,000 hours at $15.30 Variable overhead: 30,000 machine-hours at $19.30 per hour Pixed overhead $ 702,000 336,600 579,000 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. Complete this question by entering your answers in the tabs below. Required A Required B Required c 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 Complete this question by entering your answers in the tabs below. Required A Required B Required Prepare a fixed overhead cost variance analysis. (Indicate the effect of each variance by selecting " for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Total fixed overhead cost variance Journal entry worksheet A B D E F G H > Record entry for direct material costs payable and material variances. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet Journal entry worksheet Record the entry for fixed overhead applied. Note: Enter debits before credits. Event General Journal Debit Credit 6 Record entry Clear entry View general journal Journal entry worksheet Required A Required B Required 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 varlance Journal entry worksheet Record entry for direct material costs payable and material variances. Note: Enter debits before credits. Event General Journal Debit Credit Journal entry worksheet Record the entry for variable overhead payable. Note: Enter debits before credits. Event General Journal Debit Credit 4 Record entry Clear entry View general Journal Journal entry worksheet A B C D Egy F G I M Record the variable overhead variances. Note: Enter debits before credits. Event General Journal Debit Credit 5 Record entry Clear entry View general journal Journal entry worksheet B D E H M Record the entry for fixed overhead applied. Note: Enter debits before credits. Debit General Journal Credit Event 6 View general journal Record entry Clear entry Journal entry worksheet Direct materiale purchased and used 390,000 pounds at $1.80 Direct labori 22,000 hours at $15.30 Variable overhead: 30,000 machine-hours at $19.30 per hour Pixed overhead $ 702,000 336,600 579,000 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. Complete this question by entering your answers in the tabs below. Required A Required B Required c 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 Complete this question by entering your answers in the tabs below. Required A Required B Required Prepare a fixed overhead cost variance analysis. (Indicate the effect of each variance by selecting " for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Total fixed overhead cost variance Journal entry worksheet A B D E F G H > Record entry for direct material costs payable and material variances. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet Journal entry worksheet Record the entry for fixed overhead applied. Note: Enter debits before credits. Event General Journal Debit Credit 6 Record entry Clear entry View general journal Journal entry worksheet Required A Required B Required 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 varlance Journal entry worksheet Record entry for direct material costs payable and material variances. Note: Enter debits before credits. Event General Journal Debit Credit Journal entry worksheet Record the entry for variable overhead payable. Note: Enter debits before credits. Event General Journal Debit Credit 4 Record entry Clear entry View general Journal Journal entry worksheet A B C D Egy F G I M Record the variable overhead variances. Note: Enter debits before credits. Event General Journal Debit Credit 5 Record entry Clear entry View general journal Journal entry worksheet B D E H M Record the entry for fixed overhead applied. Note: Enter debits before credits. Debit General Journal Credit Event 6 View general journal Record entry Clear entry Journal entry worksheet