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 Product Alpha6 Zeta7 X442 Y661 2.0 kilos 3.0 liters 5.0 kilos 4.0 liters Sintering 0.20 hours Finishing: 0.90 hours 0.40 hours 1.00 hours Information relating to materials purchased and materials used in production during May follows: Material X442 Purchases Purchase Cost 15,500 kilos $ 48,050 16,500 liters $ 29,700 Standard Price $ 2.90 per kilo $ 1.90 per liter Used in Production 10,000 kilos 14,500 liters 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, 1,320 direct labor-hours were worked in Sintering at a total labor cost of $31,680, and 3,000 direct labor-hours were worked in Finishing at a total labor cost of $67,500. d. Production during May was 2,100 Alpha6s and 1,220 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.