Problem 9-21 Multiple Products, Materials, and Processes (L09-4, LO9-5) Mickley Corporation produces two products, AlphaGs 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 bosis): Product Alpha teta? Raw Material 442 Y661 2.5 kilon 2.5 liters 4.5 kilon 4.5 liters standard Labor Tine Sintering Finishing 0.40 hours 0.90 hours 0.35 hours 0.30 hours Information relating to materials purchased and materials used in production during May follows: hree standard Uwed in Parehanes Cont Drice Production 16,000 kilon 057,600 93.40 per kilo 10.500 100 7661 17.000 liter $25,500 $1.60 per liter 15.000 liter Material 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 $2100 per hour in Finishing c. During May, 1400 direct labor hours were worked in Sintering at a total labor cost of $34,300, and 3,050 direct labor hours were worked in Finishing at a total labor cost of $70150, d. Production during May was 2,600 AlphaCs and 1.000 Zeto?s. Required: 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 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.) Standard Quantity or Hours Standard Price or Rate Standard Cost kilos liters per kilo per liter per hour per hour hours hours $ Alpha Direct materials X442 Direct materials-Y561 Direct laborSintering Direct labor-Finishing Total Zeta Direct materials X442 Direct materials--Y661 Direct labor-Sintering Direct labor-Finishing Total 0.00 kilos liters hours hours per kilo per liter per hour per hour $ 0.00 Required 2) Required 1 Required 2 Required 3 Compute the materials price and quantity variances for each material. (Indicate the effect of each variance by selecting "P for favorable, "U" for unfavorable, and "None" for no effect (1.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
