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): Standard Labor Tine Raw Material 7661 Product Alphat X442 2.5 kilos Finishing Sintering 0.20 hours 0.90 houre 2.5 liters 3.5 liters Zeta? 4.5 kilon 0.30 hours 1.20 hours Information relating to materials purchased and materials used in production during May follows: Purchase Cost Material x442 Purchases 15,000 kilos Standard Price $2.40 per kilo $ 39,000 16,000 liters $ 20,800 Used in Production 9.500 kilos 14,000 liters Y661 $ 1.40 per liter 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 $20.00 per hour in Finishing. c. During May, 1,300 direct labor-hours were worked in Sintering at a total labor cost of $30,550, and 2,950 direct labor-hours were worked in Finishing atyo total labor cost of $64,900. d. Production during May was 1,600 Alpha6s and 1,300 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 Required 2 Required 3 www bok ces Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete the standard cost card for each product, showing the standard cost of direct materials and direct answers to 2 decimal places.) Standard Quantity or Hours Standard Price or Rate Standard Cost Alpha6: Direct materials-X442 kilos per kilo Direct materials-Y6611 liters per liter Direct labor-Sintering hours per hour Direct labor-Finishing hours per hour Total Direct materials-X442 kilos per kilo Direct materials-Y661 liters per liter Direct labor-Sintering hours per hour hours Direct labor-Finishing Total per hour Zeta7: Required 1 Required 2 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 Requires 2 Required 3 Compute the materials price and quantity variances for each material. (Indicate the effect of each variance by select favorable, "U" for unfavorable, and "None" for no effect (i.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 Required 1 Required 3 > 2:26:29 ces 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 favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive Direct Labor Variances-Sintering: Labor rate variance Labor efficiency variance Direct Labor Variances Finishing: Labor rate variance Labor efficiency variance
