Mice Corporation Products Chapter 9 Graded Homework Saved Help 6 Mickley Corporation produces two products, Alphabs and Zeto7s, 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 21 points Book Maw Material Standard Labor Time Product *442 7661 sintering thing Alpha 1.5 kilo 2.2 Ilter 0.40 hours 0.00 hours teta? 3.5 kilo 4.4 liters 0.30 hours 0.90 hours Information relating to materials purchased and materials used in production during May follows: Purchase Used in Material Parchases Coat Standard Price Production 642 14,100 kilos 5 53.580 $ 3.60 per kilo 8,600 Xilos Y661 15,100 litara $ 21,140 $ 1.50 per liter 13,100 1ltern The following additional Information is available: Print Reference a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $18.00 per hour in Sintering and $18.00 per hour in Finishing During May, 1.250 direct labor hours were worked in Sintering at a total labor cost of $28.250, and 2,860 direct labor-hours were worked in Finishing at a total labor cost of $57,200 d. Production during May was 1600 Alphabs and 1,800 Zetas. 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 lobor rate and efficiency variances for each operation Complete this question by entering your answers in the tabs below. Required 1 Requrea 2 Required Complete the standard cost card for each product showing the standard cont of direct materials and direct labor. (Round your U 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. 2.1 points Complete this question by entering your answers in the tabs below. eBook Print References 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 Alpha 6 Direct materials --X442 kilos per kilo Direct materials. Y661 ters per liter Direct labor-Sintering hours por hour Direct labor--Finishing hours per hour Total Zeta: Direct materials X442 kilos per kilo Direct materials Y661 liters per liter Direct labor-Sintering hours per hour Direct labor Finishing hours per hour Total 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. look Print Herences 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" for favorable, "U" for unfavorable, and "None" for no effect (1.o., 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 its 3. Compute the labor rate and efficiency variances for each operation. Complete this question by entering your answers in the tabs below. eBook Print o References Required 1 Required 2 Required 3 Compute the labor rate and efficiency variances for each operation. (Indicate the effect of each variance by selecting "F" for favorable, "U* for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) Direct Labor Variances Sintering: Labor rate variance Labor officiency variance Direct Lobor Variance-Finishing Laborrate variance Labor officiency variance
