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):

ProductRaw MaterialStandard Labor Time

X442Y661SinteringFinishing

Alpha61.2kilos2.0liters0.40hours0.80hours

Zeta73.0kilos4.0liters0.10hours0.60hours

Information relating to materials purchased and materials used in production during May follows:

MaterialPurchasesPurchase CostStandard PriceUsed in Production

X44214,500kilos$ 60,900$ 4.00per kilo9,000kilos

Y66115,500liters$ 27,900$ 1.90per liter13,500liters

The following additional information is available:

The company recognizes price variances when materials are purchased.

The standard labor rate is $21.00 per hour in Sintering and $19.50 per hour in Finishing.

During May, 1,250 direct labor-hours were worked in Sintering at a total labor cost of $28,750, and 2,900 direct labor-hours were worked in Finishing at a total labor cost of $62,350.

Production during May was 2,000 Alpha6s and 2,250 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.

Mickey 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 7661 Raw Material Standard Labor Time Product 2442 Sintering Finishing Alpha 1.2 kilos 2.0 liters 0.40 hours 0.00 hours Zeta 3.0 kilos 4.0 liters 0.10 hours 0.60 hours Information relating to materials purchased and materials used in production during May follow Material Purchases Purchase Cost Standard Price Die inicio X442 14,58 kilos $ 60,900 $ 4.00 per lo 9,000 kilos 4661 15,500 liters $ 27,900 $ 1.90 per liter 11,5 liters The following additional information is available: cos a. The company recognizes price variances when materials are purchased b. The standard labor rate is $2100 per hour in Sintering and $19.50 per hour in Finishing - During May. 1.250 direct labor hours were worked in Sintering at a total labor cost of $28.750, ond 2.900 direct labor hours were worked in Finishing at a total labor cost of $62,350 d. Production during May was 2.000 Alphas and 2.250 Zeto? Required: 1 Complete the standard cost card for each product showing the standard cost of direct materials and direct labor 2. Compute the materiais 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, 500 cumple use of fate and efficiency variances for each operation Complete this question by entering your answers in the tabs below. erences Reg 1 Rea 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 Standard Quantity or Hours Standard Price of Rate Cost Alpha Direct materials-X442 Kios pero Direct materials-Y561 tors per Direct labor-Sintering hours per hour Direct labor-Finishing houts Der hour Total 5 000 Zeta Dired materials-X442 kalos pero mors perder Dired materials-Y661 per hour Direct labor Sinterno Dvec tabor-Fishing hours S D D Total R2 > hours per hour int 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 erences Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3 Compute the materials price and quantity variances for each material (Indicate the effect of each variance by selecting for favorable, "U" for unfavorable, and "None" for no effect de zero variance). Input all amounts as positive values.) Direct Materials Variances-Material X442 Materials price variance Materials quantity variance Direct Materials Variances-Material Y661 Materials price variance Materials quantity variance Print 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 References Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reas Compute the labor rate and efficiency variances for each operation (Indicate the effect of each variance by selecting for favorable, "U" for unfavorable, and "None" for no effect (1.0., zero variance). Input all amounts as positive values.) Direct Labor Variances-Sintering Labor rate variance Labor efficiency variance Direct Labor Variances Finishing Labor rate variance Labor efficiency variance