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:

During the month of January, Crystal Charm made 1,500 charms. The company used 350 ounces of silver (total cost of $7,350) and 3,050 crystals (total cost of $701.50), and paid for 2,400 actual direct labor hours (cost of $34,800.00).

Required:

1.

Calculate Crystal Charms 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.)

2.	Calculate Crystal Charms 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.)

Standard Standard Price Standard Quantity (Rate) Unit Cost Silver Crystals Direct labor $ 5.00 2.00 1.50 hrs. S 0.25 per charm 0.50 s 0.25 per charm 00 22.50 $15.00 per hr