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 1.5 kilos 2.5 liters 3.5 kilos 3.5 liters Standard Labor Time Sintering Finishing 0.20 hours 0.90 hours 0.35 hours 0.80 hours Information relating to materials purchased and materials used in production during May follows: Purchase Standard Used in Material Purchases Cost Price Production X442 14.700 kilos $64.680 $4.20 per kilo 9.200 kilos Y661 15,700 liters $23,550 $1.60 1 1 3,700 liters The following additional Information is available: a. The company recognizes price variances when materials are purchased. In The standard labor rate is $22.00 per hour in Sintering and $20.50 per hour in 0 Finishing c. During May, 1.200 direct labor-hours were worked in Sintering at a total labor cost of $27,840, and 2.920 direct labor-hours were worked in Finishing at a total labor cost of $65.700 d. Production during May was 2.200 Alpha6s and 1700 Zetas. 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 per kilo per liter kilos liters hours hours per hour per hour $ 0.00 Alpha Direct materials-X442 Direct materials-Y861 Direct labor-Sintering Direct labor-Finishing Total Zeta: Direct materials-X442 Direct materials-Y881 Direct labor-Sintering Direct labor-Finishing Total kilos per kilo ters hours 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 (le, zero variance).) Direct Materials Variances-Material X442 Materials price variance Materials quantity variance Direct Materials Variances-Material Y681: Materials price variance Materials quantity variance 3. Compute the labor rate and efficiency variances for each operation. (Input all amounts as positive values. Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (le, zero variance).) Direct Labor Variances-Sintering Labor rate variance Labor efficiency variance Direct Labor Variances-Finishing: Labor rate variance Labor efficiency variance