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 Raw Material X442 Y661 2.5 2.5 kilos liters 4.5 5.5 kilos liters Standard Labor Time Sintering Finishing 0.40 1.20 hours hours 0.40 0.80 hours hours Zeta 7 Information relating to materials purchased and materials used in production during May follows: Purchase Standard Material Purchases Cost Price X442 15,400 kilos $46,200 $2.80 porn Y661 16,400 liters $27,880 $1.80 to Used in Production 9,900 kilos 14,400 liters The following additional information is available: a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $21.00 per hour in Sintering and $20.00 per hour in Finishing. c. During May, 1,350 direct labor-hours were worked in Sintering at a total labor cost of $33,210, and 2,990 direct labor-hours were worked in Finishing at a total labor cost of $65,780. d. Production during May was 2,000 Alphabs and 1,200 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. Req 1 Req 2 Req3 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 Standard Standard Req 1 Req 2 Req3 Complete the standard cost card for each product, showing the standard cost of direct materials answers to 2 decimal places.) Standard Quantity or Hours Standard Price or Rate Standard Cost kilos liters Alpha6: Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total Zeta7: per kilo per liter per hour per hour hours hours $ 0.00 kilos per kilo per liter liters Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing hours per hour hours per hour Total $ 0.00 Req 1 Reg 2 Req3 Compute the materials price and quantity variances for each material. (Indicate the effect for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all Direct Materials VariancesMaterial X442: Materials price variance Materials quantity variance Direct Materials Variances-Material Y661: Materials price variance Materials quantity variance Req 1 Reg 2 Reg 3 Compute the labor rate and efficiency variances for each operation. (Indicate favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Direct Labor VariancesSintering: Labor rate variance Labor efficiency variance Direct Labor Variances-Finishing: Labor rate variance Labor efficiency variance