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 Standard Price Standard (Rate) Unit Cost Quantity Silver 0.50 oz. $25.00 per oz. 12.50 0.50 per charm 3.50 Crystals 7.00 2.00 hrs. $14.00 per hr. Direct labor 28.00 During the month of January, Crystal Charm made 1,550 charms. The company used 745 ounces of silver (total cost of $19,370) and 10,900 crystals (total cost of $5,232.00), and paid for 3,250 actual direct labor hours (cost of $43,875.00). Required 1. Calculate Crystal Charm's 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 Charm's direct labor variances for the month of January. (Round your intermediate calculations and final answers to 2 decimal places.lndicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) Direct Labor Rate Variance Direct Labor Efficiency Variance