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Only need answers to required 2 and required 3 thank you! Mickley Corporation produces two products, Alpha6s and Zeta7s, which pass through two operations, Sintering
Only need answers to "required 2" and "required 3" thank you!
Mickley Corporation produces two products, Alpha6s 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): Information relating to materials purchased and materials used in production during May follows: The following additional information is avallable: 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. c. During May. 1,320 direct labor-hours were worked in Sintering at a total labor cost of $31,680, 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 Alpha6s and 1,200 Zeta7s. Required: 1. Complete the standard cost card for each product, showing the standard ost 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. 2. Compute the materials price and quantity variances for each material. 3. Compute the labor rate and efficiency variances for each operation. Answer is not complete. Complete this question by entering your answers in the tabs below. 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 (L.e., zero variance). Input all amounts as positive values.) 3. Compute the labor rate and efficiency variances for each operation. Answer is not complete. Complete this question by entering your answers in the tabs below. 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 (i.e., zero variance). Input all amounts as positive values,) Step by Step Solution
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