I am missing -FD/usr/bin/
The rest looks pretty ok to me.
Since it is a cross-compiler I seem to remember somehow that /usr/bin is not a default perse.
So give that a try.
The other option is that you point to real 32bit linker and assembler( instead of 64bit compiled versions that link and assemble 32 bit) , which will ONLY work on a dual 32/64 system, which you need to install.
That's called multiarch. You also have to install binutils-multiarch.