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) Raw Material Standard Labor Time Product 442 7661 Sintering Finishing Alphab 2.5 kilos 2,5 liters 0.10 hours 1.00 hour's Zeta 4.5 kilos 5.a liters 0.30 hours 1.20 hours Information relating to materials purchased and materials used in production during May follows: Purchase Material Purchases Cost Standard Price X442 15,200 kilos $ 42,560 $ 2.60 per kilo 7661 16,200 liters $ 24,300 $ 1.60 per liter The following additional information is available: Used in Production 9,200 kilos 14,200 liters 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 During May, 1320 direct labor hours were worked in Sintering at a total labor cost of $31680, and 2.970 direct labor-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 the standard cost card for each product, showing the standard cost of direct mate 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 Alpha 6 Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total Zeta 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 Compute the materials price and quantity variances for each material. (Indicate the effect of each variance by selecting "F" 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 Compute the labor rate and efficiency variances for each operation. (Indicate the effect of each variance by se favorable, "U" for unfavorable, and "None" for no effect (ie, zero variance). Input all amounts as positive valu Direct Labor Variances-Sintering Labor rate variance Labor efficiency variance Direct Labor Variances--Finishing Labor rate variance Labor efficiency variance