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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:

	Standard Quantity		Standard Price (Rate)			Standard Unit Cost
Silver	0.25	oz.	$	20.00	per oz.	$	5.00
Crystals	2.00		$	0.25	per charm		0.50
Direct labor	1.50	hrs.	$	15.00	per hr.		22.50

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.)

	Silver	Crystals
Direct Material Price Variance
Direct Material Quantity Variance

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.)

Direct labor Variance
Direct Labor Efficiency Variance

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