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 Alpha6 1.8 kilos 2.4 liters 0.20 hours 1.20 hours Zeta7 4.4 kilos 4.4 liters 0.40 hours 0.80 hours Information relating to materials purchased and materials used in production during May follows: Material Purchases 15, 100 kilos Purchase Cost $ 40,770 $ 22,540 X442 Standard Price $ per 2.50 kilo $ per 1.50 liter Used in Production 9,600 kilos Y661 16, 100 liters 14,100 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 $21.50 per hour in Finishing. c. During May, 1,300 direct labor-hours were worked in Sintering at a total labor cost of $30,680, and 2,960 direct labor-hours were worked in Finishing at a total labor cost of $69,560. d. Production during May was 1,700 Alpha6s and 1,550 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. Req 1 Req 2 Req 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 Zeta7: Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total kilos liters hours hours per kilo per liter per hour per hour Req 1 Req 2 Req 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 (i.e., zero variance). Input all amounts as positive values.) Show less Direct Materials VariancesMaterial X442: Materials price variance Materials quantity variance Direct Materials Variances-Material Y661: Materials price variance Materials quantity variance Req 1 Req 2 Reg 3 Compute the labor rate and efficiency variances for each operation. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Show less Direct Labor Variances- Sintering: Labor rate variance Labor efficiency variance Direct Labor Variances- Finishing: Labor rate variance Labor efficiency variance