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Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Calculate Crystal Charm's direct labor variances for the month of January.
Note: 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, and "None" for no effect (i.e., zero variance).
Direct Labor Rate Variance
Direct Labor Efficiency Variance
![E9-6 (Algo) 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:
Silver
Crystals
Direct labor
Standard Quantity
0.55 ounce
3.00
2.00 hours
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 Required 2
Standard Price (Rate)
$ 23.00 per ounce
$ 0.40 crystal
$ 13.00 per hours
Required:
1. Calculate Crystal Charm's direct materials variances for silver and crystals for the month of January.
2. Calculate Crystal Charm's direct labor variances for the month of January.
Complete this question by entering your answers in the tabs below.
Direct Material Price Variance
Direct Material Quantity Variance
Calculate Crystal Charm's direct materials variances for silver and crystals for the month of January.
Note: 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, and "None" for no effect (i.e., zero variance).
Silver
Standard Unit
Cost
$ 12.65
1.20
26.00
< Required 1
Crystals
Required 2 >](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F38c4de76-dbc4-44e2-a15a-5e4c3ca49481%2Fc9ed8ed8-45c7-4ee7-a761-dda217c39e87%2F8kuyax_processed.png&w=3840&q=75)
Transcribed Image Text:E9-6 (Algo) 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:
Silver
Crystals
Direct labor
Standard Quantity
0.55 ounce
3.00
2.00 hours
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 Required 2
Standard Price (Rate)
$ 23.00 per ounce
$ 0.40 crystal
$ 13.00 per hours
Required:
1. Calculate Crystal Charm's direct materials variances for silver and crystals for the month of January.
2. Calculate Crystal Charm's direct labor variances for the month of January.
Complete this question by entering your answers in the tabs below.
Direct Material Price Variance
Direct Material Quantity Variance
Calculate Crystal Charm's direct materials variances for silver and crystals for the month of January.
Note: 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, and "None" for no effect (i.e., zero variance).
Silver
Standard Unit
Cost
$ 12.65
1.20
26.00
< Required 1
Crystals
Required 2 >
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