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 Y661 Standard Labor Time Sintering Pinishing Produet Alpha6 Zeta7 X442 1100 2.0 liters 0.30 houra 1.20 hours kiloa 5.0 4.0 liters 0.40 hours 1.20 hours Information relating to materials purchased and materials used in production during May follows Purchase Standard Used in Production 9,400 kilos 13,900 liters Material Purchase Cost Price per x12 14,900 kilos 937, 250 92.30 Y661 15.900 1iters $19.080 91.30 Piter 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 $19.50 per hour in Finishing C. During May, 1,250 direct labor-hours were worked in Sintering at a total labor cost of $29,000, and 2,940 direct labor hours were worked in Finishing at a total labor cost of $63,210 d. Production during May was 1,500 Alpha6s and 1,000 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