Problem $10-10($Static$)$ Multiple Products, Materials, and Processes $[$LO$10-1,$ LO$10-2]$

Mickley Corporation produces two products, Alpha$6$s and Zeta$7$s$,$ which pass through two operations, Sintering and Finishing. Each of the products uses two raw materials $-$ X$442$ and Y$661.$ The company uses a standard cost system, with the following standards for each product $($on a per unit basis$)$:

$\backslash$table$[[,$Raw Material,Standard Labor Time$],[$Product$,$X$442,$Y$661,$Sintering,Finishing$],[$Alpha$6,1\mathrm{.}8$ kilos,$2\mathrm{.}0$ liters,$0\mathrm{.}20$ hours,$0\mathrm{.}80$ hours$],[$Zeta$7,3\mathrm{.}0$ kilos,$4\mathrm{.}5$ liters,$0\mathrm{.}35$ hours,$0\mathrm{.}90$ hours$]]$

Information relating to materials purchased and materials used in production during May follows:

$\backslash$table$[[$Material$,$Purchases,Purchase Cost,Standard Price,Used in Production$],[$X$442,14,500$ kilos,$$52,200,$$$3\mathrm{.}50$ per kilo,$8,500$ kilos$],[$Y$661,15,500$ liters,$$20,925,$$$1\mathrm{.}40$ per liter,$13,000$ liters$]]$

The following additional information is available:

a$.$ The company recognizes price variances when materials are purchased.

b$.$ The standard labor rate is $$19\mathrm{.}80$ per hour in Sintering and $$19\mathrm{.}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 $1,500$ Alpha$6$s and $2,000$ Zeta$7$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 quantitv variances for each material.