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

• Maple Leaf produced and sold 93,000 tires for $48 each. Budgeted production was 100,000 tires.
• Standard variable costs per tire follow.

Direct materials: 4 pounds at $2.00	$	8.00
Direct labor: 0.50 hours at $17.50		8.75
Variable production overhead: 0.28 machine-hours at $15 per hour		4.20
Total variable costs	$	20.95

• Fixed production overhead costs:

Monthly budget $1,750,000

• Fixed overhead is applied at the rate of $17.50 per tire.
• Actual production costs:

Direct materials purchased and used: 387,000 pounds at $1.60	$	619,200
Direct labor: 42,500 hours at $17.80		756,500
Variable overhead: 27,000 machine-hours at $15.50 per hour		418,500
Fixed overhead		1,760,000

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. ** I need help with sections 9,10,11.**

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.) Actual costs Actual inputs at standard price Flexible budget Price variance Efficiency variance Cost variance Direct Materials $ 619,200 $ 774,000 $ 744,000 $ 154,800F $ 30,000 U $ 124,800F $ $ $ $ $ $ Direct Labor 756,500 743,750 813,750 12,750 70,000F 57,250F Variable Overhead $ 418,500 $ 405,000 $ 390,600 $ 13,500U $ 14,400U $ 27,900U U Complete this question by entering your answers in the tabs below. Required A Required B Required C 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 $ 132,500U Required A Required B Required 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. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Credit No A Event 1 General Journal Work-in-process inventory Materials efficiency variance Materials price variance Accounts payable Debit 744,000 30,000 154,800 619,200 813,750 12,750 Work-in-process inventory Direct labor price variance Direct labor efficiency variance Wages payable 70,000 756,500 390,600 Work-in-process inventory Variable overhead (applied) 390,600 418,500 Variable overhead (actual) Miscellaneous payables and inventory accounts 418,500 Variable overhead (applied) Variable overhead price variance Variable overhead efficiency variance Variable overhead (actual) 390,600 13,500 14,400 418,500 1,627,500 Work-in-process inventory Fixed overhead (applied) 1,627,500 1,760,000 Fixed overhead (actual) Miscellaneous payables and inventory accounts 1,760,000 H 1,627,500 10,000 Fixed overhead (applied) Fixed overhead price variance Fixed overhead production volume variance Fixed overhead (actual) 1,760,000 9 Finished goods inventory Work-in-process inventory 10 Accounts receivable Sales revenue K 11 Cost of goods sold Finished goods inventory L 12 154,800 70,000 122,500 Materials price variance Direct labor efficiency variance Fixed overhead production volume variance Direct labor price variance Variable overhead price variance Variable overhead efficiency variance Fixed overhead price variance Cost of goods sold 12,750 13,500 14.400 10,000 50,650

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