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Mickley Corporation produces two products, Alphabs and Zeta7s, which pass through two operations, Sintering and Finishing. Each of the products uses two raw materialsX442 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 2.0 kilos 1.5 liters 4.0 kilos 3.0 liters Standard Labor Time Sintering Finishing 0.30 hours 0.90 hours 0.40 hours 1.00 hours Information relating to materials purchased and materials used in production during May follows: Material X442 Y661 Purchases 14,400 kilos 15,400 liters Purchase Cost $59, 040 $26,180 Standard Price $3.99 per kilo $1.80 per liter Used in Production 8,900 kilos 13,400 liters The following additional information is available: a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $20.00 per hour in Sintering and $19.00 per hour in Finishing. c. During May, 1.200 direct labor-hours were worked in Sintering at a total labor cost of $27,480, and 2,890 direct labor-hours were worked in Finishing at a total labor cost of $60,690. d. Production during May was 1,900 Alphabs and 1,300 Zeta7s. Check my work 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. Reg 1 Req 2 Req3 Complete the standard cost card for each product, showing the standard cost of direct materials answers to 2 decimal places.) Standard Quantity or Hours Standard Price or Rate Standard Cost kilos liters hours Alpha Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total Zeta7 Direct materials-X442 Direct materials-Y661 per kilo per liter per hour per hour hours $ 0.00 kilos per kilo liters per liter Standard Quantity or Hours Standard Price or Rate Standard Cost kilos per kilo liters per liter hours hours per hour Alpha 6 Direct materials-X442 Direct materials Y661 Direct labor-Sintering Direct labor-Finishing Total Zeta Direct materials-X442 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total per hour $ 0.00 kilos per kilo liters per liter hours per hour hours per hour $ 0.00 Reg 1 Reg 2 Req 3 Compute the materials price and quantity variances for each material. (Indicate the effect of favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts Direct Materials Variances --Material X442 Materials price variance Materials quantity variance Direct Materials Variances-Material Y661: laterials price variance Materials quantity variance

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