Problem 9-21 Multiple Products, Materials, and Processes (LO9-4, LO9-5) Mickley Corporation produces two products, Alphes 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 Prodaet Standard Labor Time Timing ..JO hours 1.20 hours 0.40 hours 1.20 hours 2.0 liters Alpha 3. klo 5.0 kilos Information relating to materials purchased and materials used in production during May follows: e in Material *442 Purchases 14,900 kilos 15,300 liters Tarehase Coat $37,250 $19.000 Standard Price 92.30 per kilo $1.30 per liter 9 ,400 kilos 1 3,930 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 $19.50 per hour in Finishing. c. During May, 1.250 direct labor-hours were worked in Sintering at a total labor cost of $29,000 and 2,940 direct labor hours were worked in Finishing at a total labor cost of $63.210. d. Production during May was 1,500 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 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 Standard Standard or our e per liter Alpha Direct materials X442 Direct material -7661 Direct labor-Sintering Direct labor-Firing To kilos r hours hours kilos ers t Zetal: Direct materials X442 Direct material Y661 Direct labor Sintering Direct later Fishing Total Required 2 > 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 basis): Product Standard Labor Time Sintering Tinishing 0.30 hours 1.20 hours .40 hours Alphab 3.0 kilos 5.0 kilos 2.0 liters 4.0 liters Information relating to materials purchased and materials used in production during May follows: Parehase Material 442 Purchases 14,900 kilos 15,900 liters Cost $37,250 $19.080 Standard Price $2.30 per kilo $1.30 per liter Used in Production 9,400 kilos 13,900 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 $19.50 per hour in Finishing c. During May, 1.250 direct labor-hours were worked in Sintering at a total labor cost of $29,000, and 2.940 direct labor-hours were worked in Finishing at a total labor cost of $63,210. d. Production during May was 1,500 Alphabs and 1,000 Zeta 7s. 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 Compute the materials price and quantity variances for each material. (indicate the effect of each variance by selecting for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) Direct Materiais variances Material X442: Materials price variance Materials quantity variance Direct Materials Variances Material Y681: Materials price variance Materials quantity variance Required Problem 9-21 Multiple Products, Materials, and Processes (LO9-4, LO9-5) Mickley Corporation produces two products, Alpha 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); water Standard Labor TIS Proda Alpha 6 teta? 3.6 kilos 5.0 kilos 2.0 liters 4.0 liters 0.30 hours 0.00 hore 1.20 hours 1.20 hours Information relating to materials purchased and materials used in production during May follows Material Purehase Purchases Cost 14.900 kilos $3,250 15.900 liters $19.00 Standard Price $2.30 per kilo $1.30 per liter Used in Production 9,400 kilos T661 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 $19.50 per hour in Finishing worked in Finishing at a total labor cost of $63.210 d. Production during May was 1,500 Alphabs and 1000 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 for Compute the labor rate and efficiency variances for each operation indicate the effect of each variance by selecting 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 Dreat Labor Variances Fishing Laborrate variance Labor efficiency variance ( Begred2