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Finder File Edit View Go Window Help e 79% * ) Sat Jun 30 4:24 PM Alex Q E ezto. meducation.com Home - alamo.edu McGraw-Hill Connect Chapter 9 Exercises 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: Siver Crystals Direct labor Standard Quantity Standard (Rate) 0.55 oz. $23.00 per oz. 3.00 $0.40 per crystal 2.00 hrs. $13.00 per hr. Standard Unit Cost $ 12.65 1.20 26.00 During the month of January, Crystal Charm made 1,660 charms. The company used 873 ounces of silver (total cost of $20,952) and 5,030 crystals (total cost of $1,911.40), and paid for 3,470 actual direct labor hours (cost of $43,375.00). 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 Direct Material Price Variance A 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 variance by selecting "F" for favorable, "U" for unfavorable.) Direct Labor Rate Variance Direct Labor Efficiency Variance A 99 80 = - wie :

Explanation / Answer

1) Direct material variance :

Silver :

Direct material price variance = (23*873-20952) = 873 U

Direct material quantity variance = (1660*0.55-873)*23 = 920 F

Crystals :

Direct material price variance = (0.40*5030-1911.40) = 100.60 F
Direct material quantity variance = (1660*3-5030)*.40 = 20 U

Direct labour :

Direct labour rate variance = (13*3470-43375) = 1735 F

Direct labour efficiency variance = (1660*2-3470)*13 = 1950 U

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