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 5.0 kilos liters Standard Labor Time Sintering Finishing 0.10 1.00 hours hours 0.30 1.20 hours hours Zeta7 Information relating to materials purchased and materials used in production during May follows: Purchase Standard Used in Material Purchases Cost Price Production X442 15,200 kilos $42,560 $2.60 per kilo 9,700 kilos Y661 per 16,200 liters $24,300 $1.60 14,200 liters liter The following additional information is available: a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $23.00 per hour in Sintering and $21.00 per hour in Finishing. c. During May, 1,320 direct labor-hours were worked in Sintering at a total labor cost of $31,680, and 2,970 direct labo hours were worked in Finishing at a total labor cost of $68,310. d. Production during May was 1,800 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. Required Required Required 1 2 3 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 per kilo per liter per hour per hour hours hours $ 0.00 Alpha6: 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 Total kilos liters per kilo per liter per hour per hour hours hours $ 0.00