Crystals 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 adorned with two crystals of various colors. Standard costs follow: Standard Standard Quantity Stardard (Rate Unit Cost Silver 025 DE 3 5.00 2.00 $ 0.26 per crystal 0.5D Direct labor per hr 150 hrs. $150 per 22 50 During the month of January, Crystal Charm made 1,500 charts. 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 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 Crystals Direct Material Price Variance Direct Material Quantity Variance 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 effect of each varlance by selecting "F" for favorable, "U" for unfavorable.) Direct Labor Rate Variance Direct Labor Efficiency Variance