MyFixer adp nework Saved Help Save & Exit s! Check my wc 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 kilos R.5 liters 4.5 kilos 4.0 liters Standard Labor Time Sintering Finishing 0.20 hours 0.80 hours 0.40 hours 1.20 hours Zeta 7 Information relating to materials purchased and materials used in production during May follows: Material X442 Purchase Standard Used in Purchases Cost Price Production 15,800 kilos $53,720 $3.20 per kilo 10,300 kilos 16,800 liters $21,840 $1.40 per liter 14,800 liters Y661 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 $22.00 per hour in Finishing. ework Saved Help Save & Exit ***ULUIILUMIY HUICHUI MUILUULUUIUFULUIU WULUMULUI y II. Check my Material X442 Purchase Standard Used in Purchases Cost Price Production 15,800 kilos $53,720 $3.20 per kilo 10,300 kilos 16,800 liters $21,840 $1.40 per liter 14,800 liters Y661 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 $22.00 per hour in Finishing. c. During May, 1,380 direct labor-hours were worked in Sintering at a total labor cost of $34,500, and 3,030 direct labor-hours were worked in Finishing at a total labor cost of $72,720. d. Production during May was 2,400 Alphabs and 1,000 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 vour answers in the tabs below. Help SE Z, ; . 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 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 Standard Standard Quantity or Hours Price or Rate Cost Alpha 6 Direct materials-X442 kilos Direct materials-Y661 liters Direct labor-Sintering hours Direct labor-Finishing hours Total $ 0.00 Zeta: Direct materials-X442 kilos per kilo per liter per hour per hour per kilo Direct materials-Y661 liters per liter per hour hours Direct labor-Sintering Direct labor-Finishing Total hours per hour $ 0.00 ework Saved Help Save & Ex Check Required: 1. Complete the standard cost card for each product, showing the standard cost of direct materials and Hirect 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 (.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 mework Saved Help 1 ..nic. Mis uuruuru 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 Req 2 Req3 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 (.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
