Mickley Corporation produces two products, Alpha6s and Zeta7s, which pass through two operations, Sintering and Finishing. Each of the products uses two raw materialsX442 and Y661. The company uses a standard cost system, with the following standards for each product (on a per unit basis):

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.

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 Standard Labor Time X442 1.8 kilos 4.4 kilos Sintering 0.20 hours 0.40 hours Finishing 1.20 hours 0.80 hours Product Y661 2.4 liters 4.4 liters Alpha6 Zeta7 Information relating to materials purchased and materials used in production during May follows Purchase Cost Standard Price Used in Production 9,600 kilos 14,100 liters Material X442 Y661 Purchases 15,100 kilos $40,770 $2.50 per kilo 16,100 liters $22,540 $1.50 per 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 $21.50 per hour in Finishing c. During May, 1,300 direct labor-hours were worked in Sintering at a total labor cost of $30,680, and 2,960 direct labor-hours were worked in Finishing at a total labor cost of $69,560 d. Production during May was 1,700 Alpha6s and 1,550 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 1 Req 2 Req 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 Quantity or Hours Standard Price or Rate Standard Cost Alpha6 Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total kilos liters hours hours per kilo per liter per hour per hour Zeta7 Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total kilos liters hours hours per kilo per liter per hour per hour