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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

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 Price (Rate) Standard Unit Cost
Silver 0.35 oz. $ 31.00 per oz. $ 10.85
Crystals 6.00 $ 0.50 crystal 3.00
Direct labor 2.00 hrs. $ 20.00 per hr. 40.00

During the month of January, Crystal Charm made 1,620 charms. The company used 542 ounces of silver (total cost of $17,344) and 9,770 crystals (total cost of $4,689.60), and paid for 3,390 actual direct labor hours (cost of $66,105.00).

Required:

1. Calculate Crystal Charms direct materials variances for silver and crystals for the month of January.

2. Calculate Crystal Charms direct labor variances for the month of January.

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