Wagner, Inc., manufactures truck tires. The following information is available for the last operating period. Wagner produced and sold 45,300 tires for $80 each. Budgeted production was 49,700 tires. Standard variable costs per tire follow: Direct materials: 4 pounds at $4.00 $ 16.00 Direct labor: 0.80 hours at $17.60 14.08 Variable production overhead: 0.18 machine-hours at $21 per hour 3.78 Total variable costs $ 33.86 Fixed production overhead costs: Monthly budget $ 1,351,000 Fixed overhead is applied at the rate of $25.50 per tire. Actual production costs: Direct materials purchased and used: 191,500 pounds at $3.60 $ 689,400 Direct labor: 33,700 hours at $18.00 606,600 Variable overhead: 8,650 machine-hours at $21.40 per hour 185,110 Fixed overhead 1,408,000 Required: (a) Compute the cost variance for each variable cost for Wagner. (Do not round your intermediate calculations.Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Omit the "$" sign in your response.) Direct materials $ Direct labor $ Variable overhead $ (b) Compute the fixed overhead cost variance. (Input all amounts as positive values.Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Omit the "$" sign in your response.) Fixed overhead cost variance $ (c) Prepare the journal entries to record the activity for the last period. Assume that all variances are closed to Cost of Goods Sold at the end of the operating period. (Omit the "$" sign in your response.) General Journal Debit Credit Direct materials: Direct labor: Variable overhead: Fixed overhead: Transfer to Finished Goods Record the sale of 45,300 tires at $80. Record the disposition of variances