Logistics Solutions provides order fulfillment services for dot.com merchants. The company maintains warehouses that stock items carried by its dot.com clients. When a client receives an order from a customer, the order is forwarded to Logistics Solutions, which pulls the item from storage, packs it, and ships it to the customer. The company uses a predetermined variable overhead rate based on direct labor-hours. In the most recent month, 185,000 items were shipped to customers using 8,000 direct labor-hours. The company incurred a total of $27.600 in variable overhead costs. According to the company's standards, 0.04 direct labor-hours are required to fulfill an order for one item and the variable overhead rate is $3.50 per direct labor-hour Required: 1. What is the standard labor-hours allowed (SH) to ship 185,000 items to customers? 2. What is the standard variable overhead cost allowed (SH SR) to ship 185,000 items to customers? 3. What is the variable overhead spending variance? 4. What is the variable overhead rate variance and the variable overhead efficiency variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) 1. Standard quantity of labor hours allowed 2. Standard variable overhead cost allowed 3. Variable overhead spending variance 4. Variable overhead rate variance 4. Variable overhead efficiency variance 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 X442 Y661 Sintering Finishing Alpha 6 2.0 kilos 1.4 liters 0.50 hours 0.90 hours Zeta7 4.0 kilos 3.4 liters 0.10 hours 0.99 hours Information relating to materials purchased and materials used in production during May follows: Purchase Used in Material Purchases Cost Standard Price Production X442 14,600 kilos $ 62,780 $ 4.10 per kilo 9, 100 kilos Y661 15,600 liters $ 21,840 $ 1.50 per liter 13,600 liters The following additional information is available: a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $15.00 per hour in Sintering and $20.00 per hour in Finishing, c. During May 1,300 direct labor-hours were worked in Sintering at a total labor cost of $30,030, and 2,910 direct labor-hours were worked in Finishing at a total labor cost of $64,020. d. Production during May was 2,100 Alpha6s and 1,300 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. 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. Required 1 Required 2 Required 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.) Standard Standard Standard Quantity or Hours Price or Rate Cost Alphab: Direct materials-X442 kilos Direct materials Y661 liters per liter Direct labor-Sintering hours per hour Direct labor-Finishing hours per hour Total per kilo Zeta Direct materials X442 Direct materialsY661 kilos liters per kllo per liter per hour hours Direct labor Sintering Direct labor-Finishing Total hours per hour X Regulrada Required 2 > 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. Required 1 Required 2 Required 3 Compute the materials price and quantity variances for each material. (Indicate the effect of each variance by selecting "F" favorable, "U" for unfavorable, and "None" for no effect (I.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