E$9-6($Algo$)$ Calculating Direct Materials and Direct Labor Variances $[$LO $9-3,9-4]$

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:

$\backslash$table$[[,$Standard Quantity,Standard Price $($Rate$),\backslash$table$[[$Standard Unit$],[$Cost$]]],[$Silver$,0\mathrm{.}45$ ounce,$$24\mathrm{.}00$ per ounce,$$10\mathrm{.}80$