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 4661 Sintering Finishing Alphab 2.0 kilos 3.4 liter 0.20 hours 0.80 hours tota 4.0 kilos 5.0 liters 0.25 hours 0.90 hours Information relating to materials purchased and materials used in production during May follows: Purchase Used in Material Purchases Cont Standard Price Production X442 15.900 kilos $ 55,650 $ 3.30 per kilo 10,400 kilo Y661 16,900 liters $ 23,660 $ 1.50 per liter 15,800 liter 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 1,300 direct labor-hours were worked in Sintering at a total labor cost of $31.720, and 3040 direct labor-hours were worked in Finishing at a total labor cost of $68,400. d. Production during May was 2,500 Alphabs and 1,400 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. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 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 Hour Standard Price or Rate Standard Cost kilos per kilo per liter liters hours per hour per hour hours $ 0.00 Alpha: Direct materials-X442 Direct materials-Y861 Direct labor-Sintering Direct labor-Finishing Total Zeta: Direct materials X442 Direct materials4661 Direct labor-Sintering Direct labor-Finishing Total kilos liters hours per kilo per liter per hour per hour hours $ 0.00 Roque Required 2 > 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 Complete this question by entering your answers in the tabs below. 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 (le, 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