Dineshbhai Mickley Corporation produces two products, Alpha6s and Zeta7s, which pass through two operations, Sintering and Finishing. Each ofthe products uses two raw materials-X442 and Y661. The company uses a standard cost system, with the following standards foreach product (on a per unit basis):Raw MaterialProductAlpha6Zeta7X442Y661D3.0 kilos 3.0 liters5.0 kilos 5.0 liters 0.40 hoursStandardSintering0.30 hoursLabor TimeFinishing1.10 hours1.20 hoursInformation relating to materials purchased and materials used in production during May follows:MaterialX442Y661Purchases15,300 kilos16,300 litersPurchase Cost$ 44,370Standard PriceUsed in Production$ 2.70 per kilo$ 26,080.$ 1.70 per liter9,800 kilos14,300 litersThe 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, 1,320 direct labor-hours were worked in Sintering at a total labor cost of $32,340, and 2,980 direct labor-hours wereworked in Finishing at a total labor cost of $70,030.d. Production during May was 1,900 Alpha6s and 900 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.

Standard cost per unit = Standard cost per unit of material - X442 + Standard cost per unit of…

Mickley Corporation produces two products, Alpha6s and Zeta7s, which pass through two operat 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 Alpha6 Zeta7 X442 Y661 3.0 kilos 3.0 liters 5.0 kilos 5.0 liters Sintering 0.30 hours Finishing 1.10 hours 0.40 hours 1.20 hours Information relating to materials purchased and materials used in production during May follows: Material X442 Y661 Purchases 15,300 kilos 16,300 liters Purchase Cost $ 44,370 $ 26,080 Standard Price $ 2.70 per kilo $ 1.70 per liter Used in Production 9,800 kilos 14,300 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, 1,320 direct labor-hours were worked in Sintering at a total labor cost of $32,340, and 2,980 direct labor-hours were worked in Finishing at a total labor cost of $70,030. d. Production during May was 1,900 Alpha6s and 900 Zeta7s.