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 9 Product ed Alpha X442 Y661 1.5 2.5 kilos liters 3.5 3.5 kilos liters Standard Labor Time Sintering Finishing 0.20 0.90 hours hours 0.35 0.80 hours hours Zeta7 Information relating to materials purchased and materials used in production during May follows: end Purchase Standard Used in Material Purchases Cost Price Production X442 14,700 kilos $64,680 $4.2e per 9,200 kilos kilo Y661 15,700 liters $23,550 $1.60 per 13,700 1iters liter 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 nodon relating to thidlendis purendeu anu Tidendis useu in pro uchun uning Midy follows: Purchase Standard Material Purchases Cost Price X442 14,700 kilos $64,680 $4.20 per kilo Y661 15,700 liters $23,550 $1.60 per Used in Production 9,200 kilos 'liter 13,700 liters 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, 1,200 direct labor-hours were worked in Sintering at a total labor cost of $27,840, and 2,920 direct labor-hours were worked in Finishing at a total labor cost of $65,700 d. Production during May was 2,200 Alpha6s and 1,700 Zeta7s. CU 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. 4 Complete this question by entering your answers in the tabs below. d Requi... Requi... Requi... 3 enc 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.) Show less A Standard Standard Standa Quantity Price or Cost or Hours Rate Alpha 6 Direct materials kilog per kilo X442 Direct materials. liters per Y661 liter Direct labor per hours Sintering hour Direct labor hours per -Finishing hour Total Standa Quantity Price or Cost or Hours Rate kilog per kilo liters per liter hours per hour per hour hours Alpha Direct materials X442 29 Direct materials ed Y661 Direct labor -Sintering k Direct labor - Finishing Total t Zeta7 Direct materials enc X442 Direct materials Y661 Direct labor -Sintering Direct labor -Finishing Total $ 0.00 kilos per kilo liters per liter houts per hour per hour houts $ 0.00 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. 9 Complete this question by entering your answers in the tabs below. d Requi... Requi... Requi... 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 (i.e., zero variance). Input all amounts as positive values.) Show less -noi Direct Materials Variances Material X442 Materials price variance Materials quantity variance Direct Materials Variances Material Y661 Materials price variance Materials quantity vanance 1. LOIMPICLE Le StanUCIU LUSU LAIU FUI Call pivuuLL, SHUVITY LIC SLOTTUOIU LUSL UI ULICU 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. 5 3 1 Requi... Requi... Requi... 2 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.) Show less Direct Labor nc Variances Sintering Labor rate variance Labor efficiency variance Direct Labor Variances- Finishing Labor rate variance Labor efficiency variance K Read