10 Homework Saved Hels Problem 10-10 Multiple Products, Materials, and Processes (L010-1, LO10-2) Mickley Corporation produces two products, Alphabs and Zeta7s, which pass through two operations, Sintering and Finishing. Each of the products uses two raw materials-X442 and Y661. The company uses a standard cost system, with the following standards for each product on a per unit basis): Product Alpha 6 Zeta Raw Material X442 Y661 1.8 kilos 2.0 liters 3.0 kilos 4.5 liters Standard Labor Time Sintering Finishing 0.20 hours 0.80 hours 0.35 hours 0.90 hours Information relating to materials purchased and materials used in production during May follows: Purchase Standard Used in Material Purchases Cost Price Production X442 14,580 kilos $52,200 $3.50 per kilo 8,500 kilos Y661 15,500 liters $20,925 $1.40 per liter 13,000 liters ces The following additional information is available: a. The company recognizes pride variances when materials are purchased. b. The standard labor rate is $19.80 per hour in Sintering and $19.20 per hour in Finishing c. During May, 1.200 direct labor-hours were worked in Sintering at a total labor cost of $27.000, and 2,850 direct labor-hours were worked in Finishing at a total labor cost of $59,850. d. Production during May was 1,500 Alphabs and 2,000 Zeta7s. Required: 1. Complete the standard cost card for each product, showing the standard cost of direct materials and direct labor. 2. Compute the materials price and quantity variances for each material. 3. Compute the labor rate and efficiency variances for each operation Required: 1. Complete the standard cost card for each product, showing the standard cost of direct materials and direct labor. 2. Compute the materials price and quantity variances for each material 3. Compute the labor rate and efficiency variances for each operation. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete the standard cost card for each product, showing the standard cost of direct materials and direct labor. (Round your answers to 2 decimal places.) Standard Standard Standard Quantity or Price or Rate es Hours Cost kilos liters hours per kilo per liter per hour per hour hours Alpha6: Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total Zeta: Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total kilos liters hours per kilo per liter per hour per hour hours Required: 1. Complete the standard cost card for each product, showing the standard cost of direct materials and direct labor. 2. Compute the materials price and quantity variances for each material 3. Compute the labor rate and efficiency variances for each operation Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the labor rate and efficiency variances for each operation. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) Direct Labor Variances-Sintering: Labor rate variance Labor efficiency variance Direct Labor Variances-Finishing: Labor rate variance Labor efficiency variance