1.50 points E9-5 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 adormed with two crystals of various colors Standard costs follow Standard Quantity Standard (Rate) Unit Cost Standard s 1250 Silver 050 oz. $25.00 per oz 7.00 S 0.50 per crystal 2.00 hrs $14,00 per hr 3.50 28.00 Crystals Direct labor During the month of January, Crystal Charm made 1,550 charms. The company used 745 ounces of silver (total cost of $19,370) and 10,900 crystals (total cost of $5,232.00), and paid for 3,250 actual direct labor hours (cost of $43,875.00) Required: 1. 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.) Silver Direct Material Price Variance Direct Material Quantity Varlance 2. Calculate Crystal Charm's direct labor variances for the month of January. (Round your intermediate calculations and final answers to 2 decimal places.Indicate the etfect of each variance by selecting "F" for favorable, "U for unfavorable.) Direct Labor Rate Variance Direct Labor Efficiency Variance