90.2K

Verified Solution

Link Copied!

Crystal Charm Company makes handcrafted silver charms that attach to jewelry such as a necklace or bracelet. Each charm is adore with two crystals of various colors Standard costs follow Standard Standard Price Standard Unit Quantity (Rate) Cost Silver 0.45 Oz. $24.00 per oz. $ 10.89 Crystals 6.00 $ 0.45 crystal 2.70 Direct labor 1.58 hrs. $13.00 per he. 19.50 During the month of January, Crystal Charm made 1540 charms. The company used 663 ounces of silver (total cost of $16,575) and 9,290 crystals (total cost of $3,99470), and paid for 2.460 actual direct labor hours (cost of $30,750.00) Required: 1. Calculate Crystal Charm's direct materials variances for silver and crystals for the month of January 2. Calculate Crystal Charm's direct labor variances for the month of January Complete this question by entering your answers YouTube bs below. Required 1 Required 2 Calculate Crystal Charm's direct materiais 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, and "Nono" for no effect (1... zero variance) Required: 1. Calculate Crystal Charm's direct materials variances for silver and crystals for the month of January 2. Calculate Crystal Charm's direct labor variances for the month of January Complete this question by entering your answers in the tabs below. Required 1 Required 2 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, and "None" for no effect (1.e., zero variance)) Silver Crystals Direct Material Price Variance Direct Material Quantity Variance YouTube Reguited 1 Required 2 >

Answer & Explanation Solved by verified expert

See Answer