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); Product Alpha Zeta Raw Material X442 Y661 2.0 kilos 3.0 liters 5.0 kilos 4.0 liters Standard Labor Time Sintering Finishing 0.20 hours 0.90 hours 0.40 hours 1.00 hours Information relating to materials purchased and materials used in production during Mayflows: Material X442 7661 Purchase Purchases Cost 15,500 kilos $48,050 26,500 liters $29,700 Standard Price $2.90 per kilo $1.90 per liter Uned in Production 10,000 kilos 14,500 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 1,320 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 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. Req1 Reg 2 Reg 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 kilos liters hours hours per kilo per liter per hour per hour Alpha Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total Zeta: Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total kilos liters per kilo per liter per hour per hour hours hours Reg 2 > w