Mickley Corporation produces two products, Alpha6s and ZetaTs, 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 Product Alpha6 Zeta7 X442 2.5 kilos 4.5 kilos Y661 2.5 liters 5.0 liters Standard Labor Time Sintering 0.10 hours 0.30 hours Finishing 100 hours 1.20 hours Information relating to materials purchased and materials used in production during May follows: Purchase Cost $42,560 $24,300 Standard Used in Material X442 Y661 Purchases 15,200 kilos 16,200 liters Price $2.60 per kilo $1.60 per liter 9,700 kilos 14,200 liters Raw Material Standard Labor Time X442 2.5 kilos 4.5 kilos Finishing Alpha6 Zeta7 2.5 liters 5.0 liters 1.00 hours 0.10 hours 20 hours 0.30 hours Information relating to materials purchased and materials used in production during May follows Purchase Standard Price Used in X442 Y661 Purchases 15,200 kilos 16,200 liters Cost 42,560 $2.60 per kilo S24,300 $1.60 per liter 9,700 kilos 14,200 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 $21.00 per hour in Finishing c. During May, 1,320 direct labor-hours were worked in Sintering at a total labor cost of $31,680, and 2,970 direct labor-hours were worked in Finishing at a total labor cost of $68,310. d. Production during May was 1.800 Alpha6s and 1,200 Zeta7s Requied: 1. 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.) Standar St Price or Rate Standard Cost or Hours Alpha6 Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total kilos ters hours hours per kilo per liter per hour per hour S 0.00 Zeta7 Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total kilos ters hours hours per kilo per liter per hour per hour S 0.00 2. Compute the materials price and quantity variances for each material. (Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e, zero variance).) Direct Materials Variances-Material X442 Materials price variance Materials quantity variance Direct Materials Variances-Material Y661 Materials price variance Materials quantity variance 3. Compute the labor rate and efficiency variances for each operation. (Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and None" for no effect (i.e, zero variance).) Variances Sintering: Direct Labor Labor rate variance Labor efficiency variance Direct Labor Variances-Finishing: Labor rate variance Labor efficiency variance