Mickley Corporation produces two products, Alphabs and Zeto7s, which pass through two operaculis 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 teta? Raw Material X442 Y561 1.5 kilos 2.2 liters 3.5 kilos 4.4 liters Standard Labor Tine Sintering Finishing 0.40 hours 0.80 hours 0.30 hours 0.90 hours Information relating to materials purchased and materials used in production during May follows: Turebase Material Purchases Cost Standard Price X442 11,100 kilo $ 53,500 $ 3.60 per kilo 7661 35,100 liter $ 21,140 $ 1.50 per liter The following additional information is available: Uned in Production 8.600 kilos 13,100 liters 6. The company recognizes price variances when materials are purchased. b. The standard labor rate is $18.00 per hour in Sintering and $18,00 per hour in Finishing c. During May, 1.250 direct labor-hours were worked in Sintering at a total labor cost of $28,250, and 2,860 direct labor-hours were worked in Finishing at a total labor cost of $57,200. d. Production during May was 1600 Alpha6s and 1,800 Zeto7s, 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 Standard Quantity or Hours Standard Price or Rate Standard Cost kilos liters hours hours per kilo per liter per hour per hour $ 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 per kilo liters per liter hours per hour hours per hour $ 0.00 Compute the materials price and quantity variances for each material. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (le, 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 selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (1.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