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 Zeta7 Raw Material X442 Y661 1.5 kilos 2.0 liters 3.5 kilos 4.0 liters Standard Labor Time Sintering Finishing 0.20 hours 0.80 hours 0.40 hours 0.90 hours ces Information relating to materials purchased and materials used in production during May follows: Material X442 Y661 Purchases 14.300 kilos 15,300 liters Purchase Cost $57,200 $24.480 Standard Price $3.80 per kilo $170 per Used in Production 8.800 kilos 13,300 liters The following additional information is available: a. The company recognizes price variances when materials are purchased! The standard labor rate is $20.00 per hour in Sinterina and $18.50 per hour in The following additional information is available: a. The company recognizes price variances when materials are purchased. The standard labor rate is $20.00 per hour in Sintering and $18.50 per hour in Finishing c. During May, 1,300 direct labor-hours were worked in Sintering at a total labor cost of $29,640, and 2,880 direct labor-hours were worked in Finishing at a total labor cost of $59,040 d. Production during May was 1,800 Alphabs and 1,800 Zeta7s. Requied: 1. 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 kilos Alpha Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total -- -- liters hours hours per kilo per liter per hour per hour 2. Compute the materials price and quantity variances for each material. (Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e, zero variance).) Direct Materials Variances Material X442 Materials price variance Materials quantity variance Direct Materials Variances Material Y661. Materials price variance Materials quantity variance Homework - Spring 2020 Saved Help Requied: 1. 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 kilos liters hours per kilo per liter per hour per hour hours Alphab: Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total Zeta7 Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing kilos liters per kilo per liter per hour per hour hours hours Total