Mickley Corporation produces two products, Alphas and Zeta7s, which pass through two operations, Siritering and Finishing Fach 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) Ray Wisterial Product Alpha Zeta Standard Labor Time Santering Finishing 0.20 hours 0.90 hours 0.35 hours 0.00 hours 7661 2.5 liter 3.5 liters 1.5 110 3.5 kilos Information relating to materials purchased and materials used in production during May follows Material X452 7661 Purchase Purchases Cost 14,700 kilos 364.680 15,700 liters $23,550 Standard Price 34.20 per kilo 51.60 per liter Used in Production 9, 200 kiloa 13,700 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 $20,50 per hour in Finishing c. During May. 1.200 direct labor-hours were worked in Sinteting at a total labor cost of $27840, 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 Alphabs and 1700 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. Reg 1 Reg 2 Reg 3 and direct labor. (Round 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. Reg 1 Reg2 Reg 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 1.50 kilos 250 liters 0.20 hours 0.90 hours $ 4.20 per kilo $ 1.60 per liter $ 22.00 per hour $20 50 per hour $ 6.30 4.00 4.40 18.45 $ 33.15 Alphab . Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total Zeta? Direct materials X442 Direct matenals-Y561 Direct labor-Sintering Direct labor-Finishing Total 3.50 lolos 3.50 liters 0.35 hours 0.80 hours $ 420 per kilo $ 1.60 per liter $22.00 per hour $ 20.50 per hour 5 14.70 5.60 7.70 16.40 $ 44.40 Reg 2 > a. The company recognizes price variances when materials are purchased b. The standard labor rate is $22.00 per hour in Sintering and $20.50 per hour in 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 2200 Alpha6s and 1700 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. Reg 1 Reg 2 Reg 3 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 (ie, zero variance). Input all amounts as positive values.) Direct Materials Vanances-Material X442 Materiais price variance Materials quantity variance Direct Materials Variances-Material Y661 Materials price variance Materials quantity variance 2 a. The company recognizes price variances when materials are purchased b. The standard labor rate is $22.00 per hour in Sintering and $20,50 per hour in 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 Alphaos and 1,700 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. Reg 1 Reg 2 Reg 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 "one" for no effect (.e., zero varianca). Input all amounts as positive values.) Ditect Labor Variances-Sintering Labor rate variance Lator efficiency variance Direct Labor Variances--Finishing Labor rate variance Labor officiency variance