Problem 9-21 (Algo) Multiple Products, Materials, and Processes (LO9-4, LO9-5] 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 Alphas Zeta7 Raw Material X442 V661 1.5 liters Standard Labor Time Sintering Finishing 0.10 hours 1.00 hours 3.0 kilos 4.5 liters 0.30 hours 0.80 hours 2.0 kilos Information relating to materials purchased and materials used in production during May follows: Material Purchases X442 Y661 14,200 kilos Purchase Cost $55,380 Standard Price $3.70 per kilo Used in Production 15,200 liters $ 22,500 $1.60 per liter 8,700 kilos 13,200 liters The following additional information is available: a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $22.00 per hour in Sintering and $18.10 per hour in Finishing c. During May. 1,200 direct labor-hours were worked in Sintering at a total labor cost of $27,240, and 2,870 direct labor-hours were worked in Finishing at a total labor cost of $60,270 d. Production during May was 1700 Alphas and 1,800 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 variances for each material 3 Compute the labor rate and efficiency variances for each operation.