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Mickley Corporation produces two products, Alpha and Zeta7, 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 X442 2.5 kgs 4.5 kgs Y661 2.5 litres 5.0 litres Standard Labour Time Sintering Finishing 0.10 hrs 0.30 hrs Alpha8 Zeta 1.00 hrs 1.20 hrs Information relating to materials purchased and materials used in production during May follows Purchase Cost 542,560 524,300 Standard Price $2.60 per kg $1.60 per litre Used in X442 Y661 15,200 kgs 16,200 litres 9,700 kg 14,200 litres The following additional information is available: a. The company recognizes price variances when materials are purchased. b. The standard labour rate is S23.00 per hour in Sintering and $21.00 per hour in Finishing. c. During May, 1,320 direct labour-hours were worked in Sintering at a total labour cost of $31,880, and 2,970 direct labour-hours were worked in Finishing at a total labour cost of $88,310. d. Production during May was 1,800 Alpha6s and 1,200 ZetaTs. Requied: 1. Complete the standard cost card for each product, showing the standard cost of direct materials and direct labour. (Round your answers to 2 decimal places.) or Hours Price or Rate Cost Alpha6: Direct materials-X442 5,820.00 kgs Direct materials-Y661 4.500.00 itres per litre per hour per hour 180.00 hours Direct labour-Finishing 1,800.00 hours Total S 0.00 Zeta7 Direct materials-X442 5.400.00 kgs Direct materials-Y661 6,000.00 litres per litre per hour per hour 350.00 hours Direct labour-Finishing Total 1.440.00 hours S 0.00 2. Compute the materials price and quantity variances for each material. (Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable and "None" for no effect (i.e, zero variance).) Direct Materials Variances-Material X442 Materials price varia Materials quantity variance S 1.164 Direct Materials Variances-Material Y661 Materials price varia Materials quantity variance 3. Compute the labour rate and efficiency variances for each operation. (Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable and "None" for no effect (i.e, zero variance).) Direct Labour Labour rate variance Labour efficiency variance Direct Labour Variances-Finishing: Labour rate variance Labour efficiency variance

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