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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$),$Standard Unit$],[$Cost$,,,]]$

During the month of January, Crystal Charm made $1,650$ charms. The company used $785$ ounces of silver $($total cost of $$18,055)$ and $3,350$ crystals $($total cost of $$1,105\mathrm{.}50),$ and paid for $2,625$ actual direct labor hours $($cost of $$30,187\mathrm{.}50).$

Required:

Calculate Crystal Charm's direct materials variances for silver and crystals for the month of January.

Calculate Crystal Charm's direct labor variances for the month of January.

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Calculate Crystal Charm's direct materials variances for silver and crystals for the month of January.

Note: 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 $($i$.$e$.,$ zero variance$).$

$\backslash$table$[[,$Silver,Crystals$],[$Direct Material Price Variance,,$],[$Direct Material Quantity Variance,$=,-]]$

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