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): Product Alpha 6 Zeta Raw Material X442 Y661 1.2 kilos 2.0 liters 3.0 kilos 4.0 liters Standard Labor Time Sintering Finishing 0.40 hours 0.80 hours 0.10 hours 0.60 hours Information relating to materials purchased and materials used in production during May follows: Material X442 7661 Purchase Purchases Cont 14,500 kilos $60,900 15.500 liters $27.900 Standard Price $4.00 per kilo $1.90 per liter Used in Production 9.000 kilos 13,500 liters The following additional information is available: a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $21.00 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 $28,750, and 2,900 direct labor-hours were worked in Finishing at a total labor cost of $62,350 d. Production during May was 2,000 Alpha6s and 2,250 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. 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 Req 2 Reg 3 Complete the standard cost card for each product, showing the standard cost of direct materials and direct labor. (Round y answers to 2 decimal places.) Standard Quantity or Hours Standard Price or Rate Standard Cost kilos liters hours per kilo per liter per hour por hour hours $ 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 0.00 kilos liters hours hours per kilo per liter per hour per hour $ 0.00 Reg 2 > Required: 1. Complete the standard cost card for each product, showing the standard cost of direct materials and 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. Req1 Reg 2 Reg 3 Compute the materials price and quantity variances for each material. (Indicate the effect of each variance by for favorable, "U" for unfavorable, and "None" for no effect (1.e., zero variance). Input all amounts as positive Direct Materials Variances-Material X442: Materials price variance Materials quantity variance Direct Materials Variances-Material Y661: Materials price variance Materials quantity variance Required: 1. Complete the standard cost card for each product, showing the standard cost of di 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 Req3 Compute the labor rate and efficiency variances for each operation. (Indicate the effect of favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amc Direct Labor VariancesSintering: Labor rate variance Labor efficiency variance Direct Labor Variances-Finishing: Labor rate variance Labor efficiency variance
