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 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 Purchase Purchases Cost 15,700 kilos $51,810 16,700 liters $20,040 Standard Price $3.10 per kilo $1.30 per liter Used in Production 10,200 kilow 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. 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 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 (.e., zero variance). Input all amounts as positive values.) 3,140U Direct Materials Variances --Material X442: Materials price varia 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 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 Req3 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 (1.e., 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 Standard Quantity or Hours Standard Price or Rate Standard Cost Alphab: Direct materials-X442 Direct materials-7661 Direct labor-Sintering Direct labor-Finishing Total Zeta: 3.00 kilos 2.00 liters 0.40 hours 1.00 hours $ 3.10 per kilo $ 1.30 per liter $ 23.00 per hour $21.50 per hour + $ 9.30 2.60 9.20 21.50 $ 42.60 Direct materials-X442 5.00 kilos $ 15.50 5.00 liters 6.50 $ 3.10 per kilo $ 1.30 per liter $23.00 per hour $21.50 per hour 0.50 hours Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total 11.50 1.20 hours 25.80 $ 59.30 Check my work 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 Alphab 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 ok Information relating to materials purchased and materials used in production during May follows: mt nces Material X442 Y661 Purchase Purchases Cost 15,700 kilos $51,810 16,700 liters $20,040 Standard Price $3.10 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 durinn Mav wae 2 200 Alnhake and 700 70174 Check my w Information relating to materials purchased and materials used in production during May follows: Material X442 Y661 Purchase Purchases Cost 15, 700 kilos $51,810 16,700 liters $20,040 Standard Price $3.10 per kilo $1.30 per liter Used in Production 10,200 kilos 14,700 liters The following additional information is available: k ces 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 Alpha6s and 700 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 ramnlatatie nuntian hantarinn var nerere in the the hann