4 Mickley Corporation produces two products, Alpha6s 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): Raw Material Standard Labor Time Product Alpha6 Zeta7 X442 2.5 kilos 4.5 kilos Y661 2.5 liters 4.5 liters Sintering 0.40 hours 0.35 hours Finishing 0.90 hours 0.80 hours Information relating to materials purchased and materials used in production during May follows: Standard Price Used in Production Purchase Material X442 Y661 Purchases Cost 16,000 kilos $57,600 17,000 1iters $25,500 $3.40 per kilo $1.60 per liter 10,500 kilos 15,000 liters The following additional information is available a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $22.00 per hour in Sintering and $21.00 per hour in Finishing C. During May, 1,400 direct labor-hours were worked in Sintering at a total labor cost of $34.300, and 3,050 direct labor-hours were worked in Finishing at a total labor cost of $70,150 d. Production during May was 2,600 Alpha6s and 1,000 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. Complete this question by entering your answers in the tabs below Req 1 Req 2 Req 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.) tan Standaro Quantity or Hours Price or Rate Cost Alpha6 Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total per kilo per liter kilos liters hours per hour hours per hour $ 0.00 Zeta7 Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total kilos liters hours hours per kilo per liter per hour per hour $ 0.00