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 basist Product Alpbab Totat Raw Material X442 Y661 2.5 kilos 2.5 liters 4.5 kilo 4.5 litera Standard Labor Time Bintering Finishing 0.40 hours 0.90 hours 0.35 hours 0.00 bour Information relating to materials purchased and materials used in production during May follows: Purchase Standard Used in Hatariat Purchases Cout Price Production x442 16,000 Xllo 557,600 $3.40 per kilo 10,500 llon 7661 17,000 liters 025,500 $1.60 per liter 13,000 liter The following additional information is available a. The company recognizes price variances when materials are purchased b. The standard labor rate is $22.00 per hour in Sintering and $21.00 per hour in Finishing c. During May, 1.400 direct labor hours were worked in Sintering at a total labor cost of $34,300, and 3,050 direct lobor hours were worked in Finishing at a total labor cost of $70,150. d. Production during May was 2,600 Alphaos and 1000 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