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 Zeta Raw Material X442 7661 1.8 kilow 2.4 litera 4.4 kilos 4.4 liters Standard Labor Time Sintering Finishing 0.20 hours 1.20 hours 0.40 hours 0.80 hours Information relating to materials purchased and materials used in production during May follows: Purchase Material Purchases Cost Standard Price X442 15,100 kilos $ 40,770 $ 2.50 per kilo Y661 16.100 liters $ 22,540 $ 1.50 per liter The following additional Information is available: Used in Production 9,600 kilos 14,100 litere a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $22.00 per hour in Sintering and $21.50 per hour in Finishing c. During May, 1,300 direct labor-hours were worked in Sintering at a total labor cost of $30,680, and 2,960 direct labor-hours were worked in Finishing at a total labor cost of $69,560, d. Production during May was 1,700 Alphabs and 1,550 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. Required 1 Required 2 Required 3 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 per kilo 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 Quantity or Hours Price or Rate Cost Alpha Direct materials X442 kilos Direct materials-Y681 liters per liter Direct labor-Sintering hours per hour Direct labor-Finishing hours per hour Total Zeta Direct matonais x442 (kilos per kilo Direct materials Y861 liters per liter Direct labor-Sintering hours per hour Direct labor-Finishing hours per hour Total Reute Required 2 > 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 varlances for each operation Complete this question by entering your answers in the tabs below. Required Required 2 Required 3 Compute the materials price and quantity variances for each material. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) Direct Materials Variances-Material X442: Materials price variance 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 varlances 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. Required 1 Required 2 Required 3 Compute the labor rate and efficiency variances for each operation. (Indicate the effect of each variance by selecting "P" for favorable, "U" for unfavorable, and "None" for no effect (.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