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 Y561. 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 3.8 kilos 3.e liters 8.30 hours 1.10 hours Zeta 5.2 kilos 5.e liters 2.40 hours 1.20 hours Information relating to materials purchased and materials used in production during May follows: Material X442 Y661 Purchase Standard Purchases Cost Price 15,380 kilos $44,378 $2.70 per kilo 16,3 liters $25,ese $1.7e per liter used in Production 9,808 kilos 14,300 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. 1.320 direct labor-hours were worked in Sintering at a total labor cost of $32.340 and 2.980 direct labor-hours were worked in Finishing at a total labor cost of $70.030. d. Production during May was 1.900 Alpha6s and 900 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. Reg 1 Reg 2 Reg 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 per kilo liters hours hours per le per hour per hour Alpha Direct materials-X442 Direct materials-Y001 Direct labor-Sintering Direct labor-Finishing Total Zeta 7 Direct materials-X442 Direct materials-Y861 Direct labor-Sintering Direct labor-Finishing Tota Ikilos per kilo ters per ter per hour hours hours per hour 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.) Direct Materials VariancesMaterial X442: Materials price variance Materials quantity variance Direct Materials VariancesMaterial Y661: Materials price variance Materials quantity variance 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.) Direct Labor Variances-Sintering: Labor rate variance Labor efficiency variance Direct Labor Variances-Finishing: Labor rate variance Labor efficiency variance $a $ Mickley Corporation produces two products. Alpha 6s and Zeta7s, which pass through two operations. Sintering and Finishing Each of the products uses two raw materiels-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 The Product YOS Sintern Finishing Alpha 3. kalos 2.30 hours 1.30 hours 5. kalos 2.0 hours 1.20 hours Information relating to materials purchased and materials used in production during May follows: Purchase Material Standard Material Purchase Cort Price Used 1. Production X 25, klok 54,70 52.72 per la 9,00 16, alsters 26, 51.72 per liter 14 10. ter The following additional information is available: c. The company recognizes price variances when materials are purchased b. The standard labor rates $23.00 per hour in Sintering and $21.50 per hour in Finishing. d. Production during May was 1900 Alpha6s and 900 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 variences for each operation. Complete this question by entering your answers in the tabs below. Rez Resa 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 of Rate Cost Alpha Diris1 Directoring Direttore Total Zeta ters hours hours Porter per hour per hour KO perk - |- DirectY681 Droorsiering Director-Finang Tors ters hours hours I per hour per hour Compute the materials price and quantity variances for cach material. (Indicate the effect of cach variance by selecting "F For favorable, 'V' for unfavorable, and "None' for no effect (.e., zero variance). Input all amounts as positive values.) Direct Maleria Vallence MaterialX442 Materials orice var arce Material quantiy variance Dired Malerie Verentes-Material Y001 Material price varare Material entity Compute the labor rate and efficiency variances for each operation. (Indicate the effect of each variance by selecting " for favorable, 'u' for unfavorable, and "None' for no effect (ie, zero variance). Input all amounts as positive values.) Direct Labor Varoring Laborrate variance Labor officiency variance Direct Labor Variances Fishing Laborde vara Labor efficiency variance