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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 ounce $ 22.00 per ounce $ 7.70
Crystals 4.00 $ 0.35 crystal 1.40
Direct labor 1.50 hours $ 11.00 per hours 16.50

During the month of January, Crystal Charm made 1,520 charms. The company used 507 ounces of silver (total cost of $11,661) and 6,130 crystals (total cost of $2,022.90), and paid for 2,430 actual direct labor hours (cost of $25,515.00).

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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