solve all questions do not give solution in image 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 areclosed 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 BPrepare a fixed overhead cost variance analysis. (Indicate the effect of each variance by selecting "F" for favorable, or "U" forunfavorable. If there is no effect, do not select either option.)Total foxed overhead cost varianceRequired C< Required ARequired C > Maple Leaf Production manufactures truck tires. The following information is available for the last operating period...Maple Leaf produced and sold 94,000 tires for $49 each. Budgeted production was 98,000 tires.Standard variable costs per tire follow.Direct materials: 4 pounds at $2.00Direct labor: 0.45 hours at $21.00Variable production overhead: 0.29 machine-hours at $15 per hourTotal variable costs• Fixed production overhead costs:Monthly budget $1,385,000Fixed overhead is applied at the rate of $15.00 per tire.• Actual production costs;Direct materials purchased and used: 388,000 pounds at $1.70Direct labor: 40,500 hours at $21.30Variable overhead: 28,000 machine-hours at $15.60 per hourFixed overhead$ 8.009.454.35$21.80$ 659,600862,650436,8001,386,000

Name: solve all questions do not give solution in image Required:a. Prepar
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Description: solve all questions do not give solution in image 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

Variance analysis Variance analysis refers to the study of deviations between actual behavior and…

Business

Accounting

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.