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Mickey 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 Standard Labor Time Product 3442 7661 Sintering Tinishing Niphat 2.5 kilos 2.5 liters 0.40 hours 1.20 hours Zeta 4.5 kilos 5.5 liters 0.40 hours 0.80 hours Information relating to materials purchased and materials used in production during May follows: Material Purchases Purchase Coat Standard Price Coed in Production X442 15,400 kilos $ 46,200 $ 2.80 per kilo 9,900 kilos Y661 16,400 litera $ 27.880 $ 1.80 per liter 14,400 litera The following additional information is available: a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $21.00 per hour in Sintering and $20.00 per hour in Finishing, c. During May 1,350 direct labor-hours were worked in Sintering at a total labor cost of $33,210, and 2.990 direct labor-hours were worked in Finishing at a total labor cost of $65,780, d. Production during May was 2,000 Alpha6s and 1.200 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 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 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 Quantay Hours Standard Price or RA Standard Cost perilo Alpha Direct marais-X442 Direct matenale-Y661 Dinner Santri Nos ters wone rusty at a total QUI LUSIUI 909,/OU. d. Production during May was 2,000 Alpha6s and 1,200 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 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3 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 Alpha: Direct materials-X442 kilos per kilo Direct materials-Y661 liters per liter Direct labor-Sintering hours per hour Direct labor-Finishing hours Total $ 0.00 Zeta Direct materials-X442 kilos Direct materials-Y661 liters Direct labor-Sintering hours Direct labor-Finishing hours Total 0.00 per hour per kilo per liter per hour per hour $ s Ragt Reg 2 > ETE Next Intering at a total labor cost of $33,210, and 2,990 direct labor-hours were worked in Finishing at a total labor cost of $65,780. d. Production during May was 2,000 Alpha6s and 1.200 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. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3 Compute the materials price and quantity variances for each material (Indicate the effect of each variance by selecting "P" for favorable. "U" for unfavorable, and "None" for no effect (1.e., zero variance). Input all amounts as positive values.) Direct Materiais Variances-Material X442 Materials price variance Materials quantity variance Direct Material Variances Material Y601 Material price variance Materials quantity variance de company recognizes price variances when materials are purchased. . The standard labor rate is $21.00 per hour in Sintering and $20.00 per hour in Finishing. c. During May. 1,350 direct labor-hours were worked in Sintering at a total labor cost of $33,210, and 2,990 direct labor-hours were worked in Finishing at a total labor cost of $65,780. d. Production during May was 2,000 Alpha6s and 1.200 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. Complete this question by entering your answers in the tabs below. Req 1 Reg 2 Reg 3 Compute the labor rate and efficiency variances for each operation. (Indicate the effect of each variance by selecting for favorable, "U" for unfavorable, and "None" for no effect (ie, zero variance). Input all amounts as positive values.) Direct Labor VariancesSintering: Labor rate variance Labor efficiency variance Direct Labor Variances--Finishing: Labor rate variance Labor efficiency variance