Mickley Corporation produces two products, Aipha6s and Zeta7s, which pass through two operations, Sintering and Finishing. Each of the products uses two raw mater is-X442 and Y661. The company uses a standard cost system, with the following standards for each product (on a per unit basis): Raw Material Product Alpha6 Ieta? X442 3.0 kilos 3.0 liters 5.0 kilos 5.0 liters 7661 Standard Labor Time Sintering Finishing 0.30 hours 0.40 hours 1.10 hours 1.20 hours Information relating to materials purchased and materials used in production during May follows: Purchase Cost Used in Production 9,800 kilos Material X442 Purchases 15,300 kilos Y661 16,300 liters $ 44,370 $ 26,080 Standard Price $ 2.70 per kilo $ 1.70 per liter 14,300 liters The following additional information is available: a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $23.00 per hour in Sintering and $21.50 per hour in 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 Alpha6s and 900 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. < Prev 6 of 6 Next > ok 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 ariances for each operation. Complete this question by entering your answers in the tabs below. Required 1 nces 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 (.e zero variance). Input all amounts as positive values.) Direct Materials Variances-Material X442 Materials price variance Materials quantity variance i Direct Materials Variances-Material Y661: Materials price variance Materials quantity variance 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 var nces for each operation. Complete this question by entering your answers in the tabs below. ok Required 1 Required 2 Required 3 ces 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 (i.e., zero variance). Input all amounts as positive values.) Direct Labor Variances-Sintering: Labor rate variance Labor efficiency variance Direct Labor Variances-Finishing: Labor rate variance Labor efficiency variance Book rint 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 you answers in the tabs below. Required 1 Required 2 Required 3 rences 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 Quantity or Hours Standard Price or Rate Standard Cost Alpha6: Direct materials-X442 3.00 kilos Direct materials-Y6611 3.00 liters $ 2.70 per kilo $ 1.70 per liter S 8.10 5.10 Direct labor-Sintering 0.30 hours $23.00 per hour 6.90 Direct labor-Finishing Total 1.10 hours $21.50 per hour 23.65 $ 43.75 Zeta7: Direct materials-X442) 5.00 kilos $ 2.70 per kilo S 13.50 Direct materials-Y661 5.00 liters $ 1.70 per liter 8.50 Direct labor-Sintering 0.40 hours $23.00 per hour 9.20