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 0.55 oz Standard Unit Cost 12.65 1.20 Standard (Rate) $23.00 per oz S 0.40 per crystal 2.00 hrs. $13.00 per hr. Silver Crystals Direct labor 3.00 26.00 During the month of January, Crystal Charm made 1,660 charms. The company used 873 ounces of silver (total cost of $20,952) and 5,030 crystals (total cost of $1,911.40), and paid for 3,470 actual direct labor hours (cost of $43,375.00) . Required: 1. Calculate Crystal Charm's direect 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 ea varlance by selecting "F" for favorable, "U" for unfavorable.) Crystals Silver Direct Material Price Variance Direct Material Quantity Variance 2. Calculate Crystal Charm's 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