Problem 9-21 (Algo) Multiple Products, Materials, and Processes (L09-4, LO9-5) 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 Raw Material X442 Y661 3.0 kilos 3.0 liters 5.0 kilos 5.0 liters Standard Labor Time Sintering Pinishing 0.30 hours 1.10 houra 0.40 hours 1.20 hours Information relating to materials purchased and materials used in production during May follows: Material X442 7661 Purchases 15,300 kilos 16,300 liters Purchase Cost $ 44,370 $ 26,080 Standard Price $ 2.70 per kilo $ 1.70 per liter Used in Production 9,800 kilos 14,300 liters 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 $21.50 per hour in Finishing. c. During May. 1,320 direct labor-hours were worked in Sintering at a total labor cost of $32,340, and 2,980 direct labor-hours were worked in Finishing at a total labor cost of $70,030. d. Production during May was 1,900 Alpha6s and 900 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. Required 1 Required 2 Required 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.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete the standard cost card for each product, showing the standard cost of direct materials an answers to 2 decimal places.) Standard Quantity or Hours Standard Price or Rate Standard Cost kilos liters Alpha: Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total per kilo per liter per hour hours hours per hour 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 Required Required 2 > Required 1 Required 2 Required 3 Compute the materials price and quantity variances for each material. (Indicat favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). In Direct Materials Variances-Material X442: Materials price variance Materials quantity variance Direct Materials Variances-Material Y661: Materials price variance Materials quantity variance