Mickley Corporation produces two products, Alphabs and Zeta7s, which pass through two operations, Sintering and Finishing. Each 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 Zeta Raw Material X442 Y661 3.0 kilos 2.0 liters 5.0 kilos 5.0 liters Standard Labor Time Sintering Finishing 0.40 hours 1.00 hours 0.50 hours 1.20 hours Information relating to materials purchased and materials used in production during May follows: Material X442 Y661 Purchases 15,700 kilos 16,700 liters Purchase Cost $51,810 $20,040 Standard Price 53.10 per kilo $1.30 per liter Used in Production 10,200 kilos 14,700 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. 1.450 direct labor-hours were worked in Sintering at a total labor cost of $35,090, and 3,020 direct labor hours were worked in Finishing at a total labor cost of $70,970 d. Production during May was 2,300 Alphaos and 700 Zeta7s Required: 1. Complete the standard cost card for each product showing the standard cost of direct materials and dirt labor 2. Compute the materials price and quantity variances for each material. 3. Compute the labor rate and efficiency variances for each operation 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 kilos liters hours per liter per hour hours per hour Alpha 6 Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total Zeta Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total $ 0.00 kilos liters per kilo per liter per hour per hour hours hours $ 0.00 2 Compute the materials price and quantity 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 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., zero variance). Input all amounts as positive values.) Direct Materials Variances --Material X142 Materials price variance Materials quantity variance Direct Materials Variances-Material Y661 Materials price variance Materials quantity variance Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Red 3 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 (ie, 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 ( Req2