Chapter 10 - Additional Problems ACC03326 - Fall 2019 Problem 10-10 Multiple Products, Materials, and Processes (L010-1, LO10-21 Mickley Corporation produces two products, Alphaos and Zetas, 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 7661 Sintering Finishing Alpha6 1.8 kilos 2.0 liters 0.20 hours 0.80 hours 1 Zeta7 3.0 kilos 4.5 liters 0 0.35 hours .90 hours Information relating to materials purchased and materials used in production during May follows: Standard Used in Material Purchases Purchase Cost Price Production X442 14,500 kilos S52,200 $3.50 per kilo 8,500 kilos Y661 15,500 liters $20,925 $1.40 per liter13,000 liters The following additional information is available: a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $19.80 per hour in Sintering and $19.20 per hour in Finishing c. During May, 1.200 direct labor-hours were worked in Sintering at a total labor cost of $27,000, and 2.850 direct labor-hours were worked in Finishing at a total labor cost of $59.850. d.Production during May was 1,500 Alphabs and 2,000 Zeta7s. Required: 1. Complete the standard cost card for each product, showing the standard cost of direct materials and direct labor. Standard Quantity or Hours Standard Price or Rate Standard Cost Alphab: Direct materials-X442 1.8 3.5 16.3 Direct materials-Y661 2 Liter 1/ 4 7.8 Direct labor-Sintering The 19.8 2 3 4 Direct labor-Finishing 8 15.2 1:15.36 Total 8 28.4.2 Zeta7: Direct materials-X442 3 iles 3.5 10.5 Direct materials-Y661 4.5 16.3 Direct labor-Sintering 35 16.93 Direct labor-Finishing 7 17.79 Total 141,01 2. Compute the materials price and quantity variances for each material. 3. Compute the labor rate and efficiency variances for each operation