Problem 9-21 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): Raw Material Standara Labor Time Y66 2.0 liters 5.0 liters ringinishing 3.0 kilos 5.0 kilos Alpha6 Zeta? 0.40 hours 0.50 hours 1.00 hours 1.20 hours Information relating to materials purchased and materials used in production during May follows: Purchase Cost Standard Price Used in Material X442 661 15,700 kilos $51,910 $3.10 per kilo 16,700 1iters $20,040 1.30 per liter 10,200 kilos 14,700 liters The following additional information is available: a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $23.00 per hour in Sintering and $21.50 per hour in Finishing. c. During May, 1,450 direct labor-hours were worked in Sintering at a total labor cost of $35,090, and 3,020 direct labor-hours were worked in Finishing at a total labor cost of $70,970. d. Production during May was 2,300 Alpha6s and 700 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 Mickley Corporation produces two productsAlpha6s and Zeta7% 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) Complete this question by entering your answers in the tabs below. Required 1Requied 2Required 3 0-50 hours1.20 hours compute the materials price and quantity vanances for each material. (indicate the effect of each vanance by selecting "F" for favorable, "U' for unfavorable, and "None for no effect (i.e., zero variance). Input ell amounts as positive values.) Information relating to materials purchased and materials used in production duing May follows Direct Matenals X442 Used in VMaterials price vanance 16,700 liters S2.040 $2.30per liter 14.100 liter Direct Mareria's Variances-Materal Yeet Vatenals price vanance Vaterials quantty variance The following additional information is available 8. The company recognizes price varlances when materials are purchased b, The standard labor rate is $2300 per hour in Sintering and $21 50 per hour in Finishng c. During May, 1,450 direct labor-hours were worked in Sintering at a total labor cost of $35,090, and 3,020 direct labor-hours were Required 1 Required 3 worked in Finishing at a total labor cost of $70,970. d. Production during May was 2.300 Alpha6s and 700 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 Search Required Required 2 Required 3 Complete this question by entering your answers in the tabs below. Complete the standerd cost card for each product, showing the standard cost of direct materials and direct labor. (Round your answers to 2 decimal places.) Required Required 2Required 3 Compute the lebor 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 (e., zero variance). Input all amounts as positive values. Alphat: Direct materiels X442 Direct materies-YC6 Direct lebor Sintering Direct lebor- Finishing Total per kio per iter per hour per hour Labor nate Labor eiciency varance Direct Laber Zeta Direct materiels X442 Direct materies-Ye6 Direct lebor Sintering Direct lebor- Finishing Total klos per kio Labor efficiency variance per hour Required 2 per hour 0.00