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Crystal Charm Company makes handcrafted silver charms that attach to jewelry such as a necklace or bracelet. Each charm is adorned with two crystals of various colors. Standard costs follow:

	Standard Quantity			Standard (Rate)			Standard Unit Cost
Silver	0.30	oz.		$	27.00	per oz.		$	8.10
Crystals	7.00			$	0.30	per crystal			2.10
Direct labor	2.00	hrs.		$	17.00	per hr.			34.00

During the month of January, Crystal Charm made 1,610 charms. The company used 458 ounces of silver (total cost of $12,824) and 11,320 crystals (total cost of $3,169.60), and paid for 3,370 actual direct labor hours (cost of $55,605.00). Required: 1. Calculate Crystal Charms direct materials variances for silver and crystals for the month of January. (Round your intermediate calculations and final answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.)

	Silver Crystals Direct Material Price Variance Direct Material Quantity Variance

2. Calculate Crystal Charms direct labor variances for the month of January. (Round your intermediate calculations and final answers to 2 decimal places.Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.)

	Direct Labor Rate Variance Direct Labor Efficiency Variance

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