oo Verizon LTE 9:23 PM ezto.mheducation.com sabel Karb instructions help Ouestio

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oo Verizon LTE 9:23 PM ezto.mheducation.com sabel Karb instructions help Ouestion of 10.00 points 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 0.40 o $20 00 per per orystal During the month of January, Crystal Charm made 1,630 charms. The company used 617 ounces of silver (total cost of $12,957) and 11,460 crystals (total cost of $2,635.80), and paid for 2,595 actual direct labor hours (cost of $24,652.50) 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.) Dinect Material Quandity 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 variance by selecting "F" for favorable, U" for unfavorable.) Direct Labor Eficienay Varlance

Explanation / Answer

Silver Crystal Direct Material Price Variance -617 229.2 Direct Material Quantity Variance 700 -12.5 Direct Material Price Variance(Crystals) =(Standard Price-Acual Price)Actual Quantity =(0.25-.23)11460 229.2 Actual Price=2635.8/11460 0.23 Standard Price 0.25 Direct Material Price Variance(Silver) =(Standard Price-Acual Price)Actual Quantity =(20-21)617 -617 Actual Price=12957/617 21 Standard Price 20 Direct Material Quantity Variance(Crystals) =(Standard Quantity-Actual Quantity)Standard Price Price =(11410-11460)0.25 -12.5 Standard Quantity=1630*7 11410 Actual Quantity 11460 Direct Material Quantity Variance(Silver) =(Standard Quantity-Actual Quantity)Standard Price =(652-617)20 700 Standard Quantity=1630*0.4 652 Actual Quantity 617 Direct Labour Rate Variance 1297.5 Direct Labour Efficiency Variance -1500 Direct Labour Rate Variance =(Standard Rate-Actual Rate)Actual Hours =(10-9.5)2595 1297.5 Actual Price=24652.5/2595 9.5 Standard Price 10 Direct Labour Efficiency Variance =(Standard Hours-Actual Hours)Standard Rate =(2445-2595)10 -1500 Standard Hours=1630*1.5 2445 Actual Hours 2595

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