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 3.0 kilos 2.0 liters 0.40 hours 1.00 hours Zeta 5.0 kilos 5.0 liters 0.50 hours 1.20 hours Information relating to materials purchased and materials used in production during May follows: Purchase Used in Material Purchases Cont Standard Price Production X442 15,700 kilos $ 51,810 $ 3.10 per kilo 10,200 kilos Y661 16,700 liter $ 20,040 $ 1.30 per litex 14,700 liters The following additional information is available: a. The company recognizes price variances when materials are purchased, b. The standard labor rate is $23.00 per hour in Sintering and $21.50 per hour in Finishing c. During May 1,450 direct labor-hours were worked in Sintering at a total labor cost of $35,090, and 3,020 direct labor hours were worked in Finishing at a total labor cost of $70,970. d. Production during May was 2,300 Alphabs and 700 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 Complete the standard cost card for each product, showing the standard cost of direct materials and direct labor. answers to 2 decimal places.) Standard Quantity or Hours Standard Price or Rate Standard Cost kilos per kilo liters per liter hours per hour hours per hour Alphab: Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total Zeta7: Direct materials--X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total kilos per kilo per liter liters hours per hour hours per hour Required 1 Required 2 Required 3 Compute the materials price and quantity variances for each material. ( favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variar Direct Materials Variances-Material X442: Materials price variance Materials quantity variance Direct Materials Variances-Material Y661: Materials price variance Materials quantity variance Compute the labor rate and efficiency variances for each operation. favorable, "U" for unfavorable, and "None" for no effect (i.e., zero va Direct Labor Variances-Sintering: Labor rate variance Labor efficiency variance Direct Labor Variances-Finishing: Labor rate variance Labor efficiency variance