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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 7 Raw Material X442 Y661 3.0 kilos 3.0 liters 5.0 kilos 5.0 liters Standard Labor Time Sintering Finishing 0.30 hours 1.10 hours 0.40 hours 1.20 hours Information relating to materials purchased and materials used in production during May follows: Material X442 Y661 Purchases 15,300 kilos 16,300 liters Purchase Cost $44,370 $26,080 Standard Price $2.70 per kilo $1.70 per liter Used in Production 9,800 kilos 14, 300 liters 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 Required 2 Required 3 Complete the standard cost card for each product, showing the standard cos answers to 2 decimal places.) Standard Quantity or Hours Standard Price or Rate Standard Cost Alpha Direct materials-X442 3 $ 8.10 5.10 .00 kilos 3.00 liters 0.30 hours 1.10 hours ( $ 2.70 per kilo $ 1.70 per liter $23.00 per hour $21.50 per hour 6.90 23.65 43.75 $ Direct materials-Y661 Direct laborSintering Direct labor-Finishing Total Zeta7: Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total 5.00 kilos 5.00 liters 0.40 hours 1.20 hours per kilo per liter per hour per hour 0.00 Required 1 Required 2 Required 3 Compute the materials price and quantity variances for each materi for favorable, "U" for unfavorable, and "None" for no effect (i.e., zer Direct Materials VariancesMaterial X442: Materials price variance Materials quantity variance Direct Materials VariancesMaterial Y661: Materials price variance Materials quantity variance Required 1 Required 2 Required 3 Compute the labor rate and efficiency, variances for each operati favorable, "U" for unfavorable, and "None" for no effect (i.e., ze Direct Labor VariancesSintering: Labor rate variance Labor efficiency variance Direct Labor Variances Finishing: Labor rate variance Labor efficiency variance