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):
Mickley Corporation produces two products, Alphaos 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 Babes Tu Det Sintering Finishing Alpha 2.0 1.5 liter 0.30 NEW 0.50 hours 1 4.0 Rio 2.0 liter 0.0 Nous 1.0 tours 1661 Information relating to materials purchased and materials used in production during May follows: Purchase Standard Daudi Material Purchases Productos 14,400 kilo $59.048 5. ser kilo 3.900 kilos 4563 15.400 liters $26.186 $1.00 per liter 13.400 liter The following additional information is available: a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $20.00 per hour in Sintering and $19.00 per hour in Finishing. During May, 1200 direct labor-hours were worked in Sintering at a total labor cost of $37,480, and 2.890 direct labor-hours were worked in Finishing at a total labor cost of $60.690. Production during May was 1,900 Alpha6s and 1.300 Zetas 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 role and efficiency wariances for each operation Complete this question by entering your answers in the tabs below. R1 2 Rey Complete the standard cost card for each product, showing the standard cost of drect materials and direct labor, (Round your answers to 2 decimal places) Standard Standard Standard Quanty or Hours Price of Rale Code Aiphab Droot materialX443 2.00 perke Direct mail-061 Ipar + Directoring hour pero Directing hours pur her Total $ 0.00 kis Drama 142 Direction Director Director Finishing Total perkte per per hour per hour hours $ 0.00 Raq 2 > Reg 1 Reg 2 Reg 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 Material quality variance Direct Material Variances Material Y681 Material price variance Materials quantity variance ( Req1 Reg 3 > Reg1 Reg 2 Req 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 ... Valace). Input all amounts as positive values.) Direct Labor Vancos Bring Laborde vara Laboriency variance Direct Labor Vivancos-Fishing La varao Laboriency variance Reg 1 Reg 2 Reg 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 Material quality variance Direct Material Variances Material Y681 Material price variance Materials quantity variance ( Req1 Reg 3 > Reg1 Reg 2 Req 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 ... Valace). Input all amounts as positive values.) Direct Labor Vancos Bring Laborde vara Laboriency variance Direct Labor Vivancos-Fishing La varao Laboriency variance
