Jackson, is a manufacturer of lead crystal glassesThe standard direct materials quantity is 0.9 pound per glass a cost of $0.60 per pound. The actual result for one month's production of 7.300 glasses was 1.2 pounds per glass, a cost of $0.40 per poundCalculate the direct materials cost variance and the direct materials efficiency variance

Jackson, Inc. is a manufacturer of lead crystal glasses. The standard direct materials quantity is 0.9 pound per glass at a cost of $0.60 per pound. The actual result for one month's production of 7,300 glasses was 1.2 pounds per glass, at a cost of $0.40 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 and identify whether the variance is favorable (F) or unfavorable (U). Actual Cost X Actual Quantity Standard Cost .60 Direct Materials Cost Variance 1460 U ( 40 7300 Select the formula, then enter the amounts and compute the efficiency variance for direct materials and identify whether the variance is favorable (F). or unfavorable (U). Actual Quantity Standard Quantity X Standard Cost = Direct Materials Efficiency Variance U X