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 X442 Y661 Sintering Finishing Alpha 6 2.5 kilos 2.5 litara 0.10 hours 1.00 hours Tata? 4.5 kilos 5.0 liters 0.30 hours 1.20 hours Information relating to materials purchased and materials used in production during May follows: Parehane Material Purchase Cont Standard Price X442 15,200 kilos $ 42,560 $ 2.60 per kilo 7661 16,200 liters $ 24,300 $ 1.60 per liter The following additional information is available: Used in Production 9,700 kilos 14,200 liter a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $23.00 per hour in Sintering and $2100 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 2,970 direct labor-hours were worked in Finishing at a total labor cost of $68,310 d. Production during May was 1,800 Alpha6s and 1.200 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 Required 1 Required 2 Required 3 per liter 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 Standard Quantity or Hours Price or Rate Cost Alpha Direct materials-X442 kilos per kilo Direct materials-Y661 ters Direct labor-Sintering hours per hour Direct labor-Finishing hours per hour Total $ 0.00 Zeta: Direct materials X442 los per kilo Direct materials Y661 ters per liter Direct labor-Sintering hours per hour Direct labor--Finishing hours per hour Total $ 0.00 Required 2 > Required 1 Required 2 Required 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 Materials quantity variance Direct Materials Variances-Material Y661: Materials price variance Materials quantity variance Required 1 Required 2 Required 3 Compute the labor rate and efficiency variances for each operation. (Indicate the effect of each variance by selecting "p" for favorable, "U" for unfavorable, and "None" for no effect (.e., 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