Chapter 10 Homework #1 Saved Problem 10-10 Multiple Products, Materials, and Processes (LO10-1, LO10-2) 4.75 points 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): Raw Material X442 7661 3.0 kilos 3.0 liters 5.0 kilos 5.0 liters Product Alpha6 Zeta 7 Standard Labor Time Sintering Finishing 0.30 hours 1.10 hours 0.40 hours 1.20 hours eBook Print Information relating to materials purchased and materials used in production during May follows: References Material X442 Y661 Purchases 15,300 kilos 16,300 liters Purchase Cost $44,370 $26,080 Standard Price $2.70 per kilo $1.70 per Used in Production 9,800 kilos 14,300 liters The following additional information is available: a. The company recognizes price variances when materials are purchased. h The standard labor rate is $23.00 per hour in Sintering and $21.50 per hour in 6. Finishing. c. During May, 1,320 direct labor-hours were worked in Sintering at a total labor cost of $32,340, and 2,980 direct labor-hours were worked in Finishing at a total labor cost of $70,030. d. Production during May was 1,900 Alphabs and 900 Zeta7s. Requied: 1. 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.) Requied: 1. 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.) 4.75 points Standard Quantity or Hours Standard Price or Rate Standard Cost kilos liters eBook per kilo per liter per hour per hour hours hours Print $ 0.00 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 References liters hours hours per kilo per liter per hour per hour $ 0.00 2. Compute the materials price and quantity variances for each material. (Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (ie, zero variance).) 75 oints Direct Materials Variances-Material X442: Materials price variance Materials quantity variance eBook Print Direct Materials Variances-Material Y661: Materials price variance Materials quantity variance References 4.75 points eBook 3. Compute the labor rate and efficiency variances for each operation. (Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (ie, zero variance).) Print References Direct Labor Variances-Sintering: Labor rate variance Labor efficiency variance Direct Labor Variances-Finishing: Labor rate variance Labor efficiency variance
