Case Project inst Chapter 10 Homework 1 0 McGraw-Hill Connect ezto.mheducation.com G Question 1- Chapter 10 Ho... nba - Google Search Me: New customer message USPS.COM-USPS P Saved Help Save & Exit Submit Check my work 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): Standard Labor Time Sintering 50 points Raw Material Skipped Product Alpha6 Zeta7 X442 Y661 2.5 kilos 2.5 liters 4.5 kilos 4.0 liters 0.20 hours eBook Print References Finishing 0.80 hours 0.40 hours 1.20 hours Information relating to materials purchased and materials used in production during May follows: Material X442 Y661 Purchases 15,800 kilos 16,800 liters Purchase Cost $ 53,720 $ 21,840 Standard Price $ 3.20 per kilo $ 1.48 per liter The following additional information is available: a. The company recognizes price variances when materials are purchased. Used in Production 10,300 kilos 14,800 liters b. The standard labor rate is $23.00 per hour in Sintering and $22.00 per hour in Finishing. c. During May, 1.380 direct labor-hours were worked in Sintering at a total labor cost of $34,500, and 3,030 direct labor-hours were worked in Finishing at a total labor cost of $72,720. d. Production during May was 2,400 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. Mc Graw Ri 24 Prev 1 of 2 Next > A tval A MileBack Pill