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Business, 30.03.2021 01:00 maidadiaz9459

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 0.45 oz. $ 21.00 per oz. $ 9.45 Crystals 8.00 $ 0.30 crystal 2.40 Direct labor 2.00 hrs. $ 11.00 per hr. 22.00 During the month of January, Crystal Charm made 1,640 charms. The company used 703 ounces of silver (total cost of $15,466) and 13,170 crystals (total cost of $3,687.60), and paid for 3,530 actual direct labor hours (cost of $37,065.00). Required: 1. Calculate Crystal Charms direct materials variances for silver and crystals for the month of January. 2. Calculate Crystal Charms direct labor variances for the month of January.

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