Problem 10-10 Multiple Products, Materials, and Processes [LO10-1, LO10-2] Mickley Corporation produces two products, Alphabs 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 Alpha6 Zeta7 Raw Material X442 Y661 2.0 kilos 3.0 liters 5.0 kilos 4.0 liters Standard Labor Time Sintering Finishing 0.20 hours 0.90 hours 0.40 hours 1.00 hours Information relating to materials purchased and materials used in production during May follows: Material X442 Y661 Purchases 15,500 kilos 16,500 liters Purchase Standard Cost Price $48,050 $2.90 per kilo $29,700 $1.90, per liter Used in Production 10,000 kilos 14,500 liters The following additional information is available: a. The company recognizes price variances when materials are purchased. The standard labor rate is $22.00 per hour in Sintering and $20.50 per hour in Finishing. c. During May, 1,320 direct labor-hours were worked in Sintering at a total labor cost of $31,680, and 3,000 direct labor-hours were worked in Finishing at a total labor cost of $67,500. d. Production during May was 2,100 Alphabs and 1,220 Zeta7s. Requied: 1. 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 Quantity or Hours Standard Price or Rate Standard Cost Alpha6: Direct materials-X442 Direct materials-Y661 kilos per kilo liters per liter Direct labor-Sintering hours per hour per hour Direct labor-Finishing hours Total Zeta7: Direct materials-X442 kilos per kilo Direct materials-Y661 liters per liter Direct labor-Sintering hours per hour Direct labor-Finishing hours per hour Total 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 variance Materials quantity variance Direct Materials VariancesMaterial Y661: Materials price variance Materials quantity variance 3. Compute the labor 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 Labor VariancesSintering: Labor rate variance Labor efficiency variance Direct Labor VariancesFinishing: Labor rate variance Labor efficiency variance