Problem 11-16 Multiple Products, Materials, and Processes [L011-1, LO11-2] Monte Rosa Corporation produces two products, Alpha8s and Zeta9s, which pass through two operations, Sintering and Finishing. Each of the products uses two raw materials, X342 and Y561. The company uses a standard cost system, with the following standards for each product (on a per unit basis) Raw Material Standard Labor Time Sintering 0.20 hours 0.35 hours X342 1.8 kilos 3.0 kilos Y561 2.0 liters 4.5 liters Product Alpha8 Zeta9 Finishing 0.80 hours 0.90 hours Information relating to materials purchased and materials used in production during May follows Standard Price $3.50 per kilo Purchase Cost $51,800 Used in Production 8,500 kilos Material X342 Y561 Purchases 14,000 kilos 5,000 liters $19,500 $1.40 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 $20.00 per hour in Sintering and $19.00 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 Alpha8s and 2,000 Zeta9s Required: 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.) 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 Price or Rate Standard Cost Standard Quantity or Hours Alpha8 Direct materials-X342 Direct materials-Y561 Direct labor-Sintering Direct labor-Finishing Total kilos liters hours hours per kilo per liter per hour per hour Zeta9 Direct materials-X342 Direct materials-Y561 Direct labor-Sintering Direct labor-Finishing Total kilos liters hours hours per kilo per liter per hour per hour 2. Compute the materials quantity and price 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 ariance). Round your answers to 2 decimal places.) Direct Materials Variances-Material X342: Variance Materials price variance Variance Materials quantity variance Direct Materials Variances-Material Y561: Variance Materials price variance Variance Materials quantity variance 3. Compute the direct labor efficiency and rate 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). Round your answers to 2 decimal places.) Direct Labor Variances-Sintering: Variance Labor rate variance Variance Labor efficiency variance Direct Labor Variances-Finishing: Variance Labor rate variance Variance Labor efficiency variance