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 Tine Product X442 7661 Sintering Finishing Alphab 2.0 kilos 1.4 liters 0.50 hours 0.90 hours teta 4.0 kilos 3.4 liters 0.10 hours 0.90 hours Information relating to materials purchased and materials used in production during May follows: Purchase Standard Used In Material Turchases Cont Price Production X442 14,600 kilos $62,780 54.10 per kilo 9, 100 kilos 4661 15,600 liters $21,840 $1.50 per liter 13,600 liters The following additional information is available: a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $15.00 per hour in Sintering and $20.00 per hour in Finishing c During May. 1.300 direct labor-hours were worked in Sintering at a total labor cost of $30,030, and 2,910 direct labor-hours were worked in Finishing at a total labor cost of $64,020. d. Production during May was 2,100 Alphabs and 1,300 Zeta7s. Required: fe you aren't sure how to get started, see the video for Example 9-2 in the course packet) 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. (Note that the amount of materials purchased is different from the amount of materials used - see the Chapter 9 slides if you don't recall why this matters for the materials variances) 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 per kilo 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 Alpha6 Direct materials-X442 kilos Direct materials--Y661 liters per liter Direct labor-Sintering hours per hour Direct labor-Finishing hours Total Zeta Direct materials-X442 kilos Direct materials-Y661 liters Direct labor-Sintering hours per hour Direct labor-Finishing hours per hour Total per hour per kilo per liter Regu Required 2 > 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 (.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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 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 (.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