Jackson, Inc. is a manufacturer of lead crystal glasses. The standard direct materials quantity is 0.6 pound per glass at a cost of $0.40 per pound. The actual result for one month's production of 7,600 glasses was 1.8 pounds per glass, at a cost of $0.50 per pound. Calculate the direct materials cost variance and the direct materials efficiency variance. Select the formula, then enter the amounts and compute the cost variance for direct materials. (Enter amounts to the nearest cent as needed. Label the variance as favorable (F) or unfavorable (U), in the input field after the amount you enter.) ) ) Direct Materials Cost Variance Select the formula, then enter the amounts and compute the efficiency variance for direct materials. (Enter amounts to the nearest cent as needed. Label the variance as favorable (F) or unfavorable (U), in the input field after the amount you enter.) ) ) * Direct Materials Efficiency Variance