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): Standard Labor Time sintering 0.20 hours Raw Material Product Alpha6 Zeta7 x442 2.0 kilos 4.0 kilos Y661 3.4 1iters Finishing 0.80 hours 5.0 liters 0.25 hours 0.90 hours Information relating to materials purchased and materials used in production during May follows: Standard Used in Production Purchase Purchases 15,900 kilos 16,900 liters $23,660 Material Cost Price $3.30 per kilo $1.50 per 1iter 10,400 kilos 15, 800 1iters $55,650 X442 Y661 The following additional information is available: a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $22.00 per hour in Sintering and $20.50 per hour in Finishing. c. During May, 1,300 direct labor-hours were worked in Sintering at a total labor cost of $31,720, and 3,040 direct labor-hours were worked in Finishing at a total labor cost of $68,400. d. Production during May was 2,500 Alpha6s and 1,400 Zeta7s. Required: 1. Complete the standard cost card for each product, showing the standard cost of direct materials and direct labor. ect Check my work d. Production during May was 2,500 Alpha6s and 1,400 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. Req 3 Req 1 Req 2 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 Price or Rate Standard Quantity or Hours Standard Cost Alpha6: kilos per kilo Direct materials-X442 liters per liter Direct materials-Y661 Direct labor-Sintering per hour hours Direct labor-Finishing hours per hour $ 0.00 Total Zeta7 kilos Direct materials-X442 per kilo Complete this question by entering your answers in the tabs below. Req 3 Req 1 Req 2 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: kilos per kilo Direct materials-X442 liters per liter Direct materials-Y661 Direct labor-Sintering per hour hours Direct labor-Finishing hours per hour 0.00 Total Zeta7: Direct materials-X442 kilos per kilo liters Direct materials-Y661 per liter Direct labor-Sintering per hour hours Direct labor-Finishing hours per hour $ 0.00 Total Reg 2 worked in Finishing at a total labor cost of $68,400 d. Production during May was 2,500 Alpha6s and 1,400 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. Ces Req 1 Req 2 Req 3 Compute the materials price and quantity variances for each material. (1Indicate 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 Materials Variances-Material X442: Materials price variance Materials quantity variance Direct Materials Variances-Material Y661: Materials price variance Materials quantity variance Reg 3> Req1 worked in Finishing at a total labor cost of $68,400. d. Production during May was 2,500 Alpha6s and 1,400 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. res Req 2 Req 3 Req 1 Compute the labor rate and efficiency variances for each operation. (Indicate the effect of each variance by selecting "" 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 Req 2
