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 7 Raw Material X442 Y661 2.0 kilos 1.5 liters 3.0 kilos 4.5 liters Standard Labor Time Sintering Finishing 0.10 hours 1.00 hours 0.30 hours 0.80 hours Information relating to materials purchased and materials used in production during May follows: Material X442 Y661 Purchase Purchases Cost 14,200 kilos $55, 380 15,200 liters $22,800 Standard Price $3.70 per kilo $1.60 per liter Used in Production 8,700 kilos 13,200 liters The following additional information is available: a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $22.00 per hour in Sintering and $18.10 per hour in Finishing. c. During May, 1,200 direct labor-hours were worked in Sintering at a total labor cost of $27,240, and 2,870 direct labor-hours were worked in Finishing at a total labor cost of $60,270. d. Production during May was 1,700 Alphabs and 1,800 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. Req1 Req 2 Req3 Complete the standard cost card for each product, showing the standard cost of direct materials and answers to 2 decimal places.) Standard Quantity or Hours Standard Price or Rate Standard Cost kilos liters hours hours per kilo per liter per hour per hour Alpha 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 hours per kilo per liter per hour per hour hours Req 1 Reg 2 Reg 3 Compute the materials price and quantity variances for each material. (Indicate favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Inp Direct Materials VariancesMaterial X442: Materials price variance Materials quantity variance Direct Materials VariancesMaterial Y661: Materials price variance Materials quantity variance Reg 1 Reg 2 Req3 Compute the labor rate and efficiency variances for each operation. (Ir favorable, "U" for unfavorable, and "None" for no effect (i.e., zero varia Direct Labor VariancesSintering: Labor rate variance Labor efficiency variance Direct Labor Variances-Finishing: Labor rate variance Labor efficiency variance