Mickley Corporation produces two products, Alphabs 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 7 Raw Material X442 7661 1.8 kilos 2.0 liters 3.0 kilos 4.5 liters Standard Labor Time Sintering Finishing 0.20 hours 0.80 hours 0.35 hours 0.90 hours Information relating to materials purchased and materials used in production during May follows: Material X442 7661 Purchase Purchases Cost 14,500 kilos $ 52,200 15,500 liters $20,925 Standard Price $3.50 per kilo $1.40 per liter Used in Production 8,500 kilos 13,000 liters The following additional information is available: a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $19.80 per hour in Sintering and $19.20 per hour in Finishing. c. During May, 1,200 direct labor-hours were worked in Sintering at a total labor cost of $27,000, and 2,850 direct labor-hours were worked in Finishing at a total labor cost of $59,850. d. Production during May was 1,500 Alphabs and 2,000 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. 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 labor. (Round you answers to 2 decimal places.) Standard Standard Quantity or Hours Price or Rate Standard Cost Alphab: Direct materials-X442 Direct materials-Y661 kilos per kilo liters per liter hours per hour Direct labor-Sintering Direct labor-Finishing Total hours per hour kilos per kilo liters per liter Zeta7: Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total hours per hour hours per hour