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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 0.30 ounce $ 30.00 per ounce $ 9.00
Crystals 5.00 $ 0.45 crystal 2.25
Direct labor 1.50 hours $ 19.00 per hours 28.50

During the month of January, Crystal Charm made 1,610 charms. The company used 458 ounces of silver (total cost of $14,198) and 8,100 crystals (total cost of $3,483.00), and paid for 2,565 actual direct labor hours (cost of $47,452.50).

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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