Problem 10-10 (Algo) Multiple Products, Materials, and Processes (L010-1, LO10-2] Mickley Corporation produces two products, Alpha6s 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 Alpha 6 Zeta Raw Material X442 Y661 1.5 kilos 2.2 liters 3.5 kilos 4.4 liters Standard Labor Time Sintering Finishing 0.40 hours 0.80 hours 0.30 hours 0.90 hours Information relating to materials purchased and materials used in production during May follows: Material X442 4663 Purchase Purchases Cost 14,100 kilos $53,580 15.100 liters $21, 140 Standard Price $3.60 per kilo $8.50 per liter Used in Production 8,600 kilos 13,100 liters The following additional information is available: a. The company recognizes price variances when materials are purchased b. The standard labor rate is $18.00 per hour in Sintering and $18.00 per hour in Finishing c. During May, 1.250 direct labor hours were worked in Sintering at a total labor cost of $28,250, and 2,860 direct lobor-hours were worked in Finishing at a total labor cost of $57,200 d. Production during May was 1600 Alphabs and 1,800 Zeto7s 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