Problem 10-10 Multiple Products, Materials, and Processes (L010-1, LO10-2] Mickley Corporation produces two products, Alphaos 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): Raw Material Standard Labor Time Product X442 Sintering Finishing Alpha 1.8 kilos 2.0 liters @.20 hours 0.80 hours Zetaz 3.0 kilos 4.5 liters 0.35 hours 0.90 hours Y661 Information relating to materials purchased and materials used in production during May follows: Material X442 Y661 Purchase Purchases Cost 14,588 kilos $52,200 15,580 liters $20,925 Price $3.50 per kilo $1.40 per liter Used in Production 8,500 kilos 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 $19.80 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. 2. Compute the materials price and quantity varlances 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. Required 1 Required 2 Required 3 per liter Complete the standard cost card for each product, showing the standard cost of direct materials and direct labor. (Round your answers to 2 decimal places.) Standard Standard Standard Quantity or Hours Price or Rate Cost Alphab: Direct materials-X442 kilos per kilo Direct materials-Y661 liters Direct labor-Sintering hours per hour Direct labor-Finishing hours per hour Total Zeta7 Direct materials-X442 kilos Direct materials-Y661 liters Direct labor-Sintering hours per hour Direct labor-Finishing hours per hour Total per kilo per liter Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the materials price and quantity variances for each material. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Direct Materials VariancesMaterial X442 Materials price variance Materials quantity variance Direct Materials VariancesMaterial Y661: Materials price variance Materials quantity variance Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the labor rate and efficiency variances for each operation. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Direct Labor VariancesSintering: Labor rate variance Labor efficiency variance Direct Labor VariancesFinishing: Labor rate variance Labor efficiency variance