2 Mickley Corporation produces two products, Alphabs and Zeta/s, which pass through two operations, Sintering and Finishing Ench 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 7 Dos Product Alpha teta w Material X442 YU61 1.5 kilo 2.0 liters 3.5 Milos 4.0 liter Standard Labor Time Sintering Tinting 0.20 hours 0.10 hours 0.40 hours 0.90 hours w Prime References Information relating to materials purchased and materials used in production during May follows: Purchase Standard Band in material Purchases Coat TE Traduction X2 14,300 KILO 557,200 $3.0 per kilo 3,100 10 7661 15,100 litar 524,40 $1.70 per litet 13.300 litere The following additional information is available: a. The company recognizes price variances when materials are purchased b. The standard labor rate is $20.00 per hour in Sintering and $18.50 per hour in Finishing c. During May, 1.300 direct labor hours were worked in Sintering at a total labor cost of $29,640, and 2,880 direct labor-hours were d. Production during May was 1,800 Alpha6s and 1800 Zetas 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 2 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. 7 points eBook Print Buferences Req1 Reg 2 Req3 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 Hours Price or Rate Cast Alpha Direct materiais-X442 kilos per kilo Direct materials Y661 ters per er Direct labor-Sintering hours per hour Direct labor-Finishing hours per hour Total $ 0.00 Zeta Direct materials-X442 kos per Direct material Y661 Hers Direct labor-Svering per hour Direct labor Finishing hours per hour Total $ 0.00 hours Complete this question by entering your answers in the tabs below. Reg 1 Req2 Req 3 Compute the materials price and quantity variances for each material. (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 Materials Variances--Material X442: Materials price variance Materials quantity variance Direct Materials Variances - Material Y661: Materials price variance Materials quantity variance Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 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 (le, zero variance) Input all amounts as positive values.) Direct Labor Variances-Sintering: Labor rate variance Labor efficiency variance Direct Labor Variancas-Finishing: Labor rate variance Labor efficiency variance