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Mickley Corporation produces two products, Alpha 6 s and Zeta 7 s , which pass through two operations, Sintering and Finishing. Each of the products
Mickley Corporation produces two products, Alphas and Zetas which pass through two operations, Sintering and Finishing. Each of the products uses two raw materials X and Y The standards for each product on a per unit basis are as follows: tableRaw Material,Standard Labor TimeProductXYSintering,FinishingAlpha kilos, liters, hours, hoursZeta kilos, liters, hours, hours Information relating to materials purchased and used in production during May follows: tableMaterialPurchases,Purchase Cost,Standard Price,Used in ProductionX kilos,$$ per kilo, kilosY liters,$$ per liter, liters The following additional information is available: a The company recognizes price variances when materials are purchased. b The standard labor rate is $ per hour in Sintering and $ per hour in Finishing. c During May, direct laborhours were worked in Sintering at a total labor cost of $ and direct laborhours were worked in Finishing at a total labor cost of $ d Production during May was Alphas and Zetas Required: Complete the standard cost card for each product, showing the standard cost of direct materials and direct labor. Compute the materials price and quantity variances for each material. Compute the labor rate and efficiency variances for each operation. Complete this question by entering your answers in the tabs below.
Mickley Corporation produces two products, Alphas and Zetas which pass through two operations, Sintering and Finishing. Each of the products uses two raw materials X and Y The standards for each product on a per unit basis are as follows:
tableRaw Material,Standard Labor TimeProductXYSintering,FinishingAlpha kilos, liters, hours, hoursZeta kilos, liters, hours, hours
Information relating to materials purchased and used in production during May follows:
tableMaterialPurchases,Purchase Cost,Standard Price,Used in ProductionX kilos,$$ per kilo, kilosY liters,$$ per liter, liters
The following additional information is available:
a The company recognizes price variances when materials are purchased.
b The standard labor rate is $ per hour in Sintering and $ per hour in Finishing.
c During May, direct laborhours were worked in Sintering at a total labor cost of $ and direct laborhours were worked in Finishing at a total labor cost of $
d Production during May was Alphas and Zetas
Required:
Complete the standard cost card for each product, showing the standard cost of direct materials and direct labor.
Compute the materials price and quantity variances for each material.
Compute the labor rate and efficiency variances for each operation.
Complete this question by entering your answers in the tabs below.
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