Problem 9-21 (Algo) Multiple Products, Materials, and Processes [LO9-4, 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): Raw Material Standard Labor Time Product X442 Y661 Sintering Finishing Alpha 6 2.5 kilos 2.5 liter 0.20 hours 0.90 hours Leta 4.5 kilou 3.5 liter 0.30 hours 1.20 hours Information relating to materials purchased and materials used in production during May follows: Purchase Used in Material Purchase Cont Standard Price Production 2442 15,000 kilo $ 39,000 $ 2.40 per kilo 9,500 kilos 4661 16.000 liter $ 20,800 $ 1.40 per liter 14.000 liter The following additional information is avaliable: a. The company recognizes price variances when materials are purchased b. The standard labor rate is $23.00 per hour in Sintering and $20.00 per hour in Finishing. c. During May, 1.300 direct labor-hours were worked in Sintering at a total labor cost of $30,550, and 2,950 direct labor hours were worked in Finishing at a total labor cost of $64,900, d. Production during May was 1,600 Alpha6 and 1,300 Zeta7. Required: 1. Complete the standard cost card for each product, showing the standard cost of direct materials and direct labor 2. Compute the materiais price and quantity variances for each material 3. Compute the labor rate and efficiency variances for each operation, 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: Required 2 Required 3 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 Laborrate variance Labor eficiency variance Direct Labor Variances-Finishing: Labor mate variance Labor ciency variance U u