E9-6 (Algo) Calculating Direct Materials and Direct Labor Variances Crystal Charm Company makes handcrafted silver charms that attach to jewelry such as a necklace or bracelet. Each charm is adorne with two crystals of various colors. Standard costs follow: Silver Crystals Direct labor Standard Quantity 0.40 ounce 7.00 1.50 hours Standard Price (Rate) $ 20.00 per ounce $ 0.25 crystal $ 10.00 per hours Standard Unit Cost $. 8.00 1.75 15.00 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. Curtal Charm's direct labor variances for the month of January.

E9-6 (Algo) Calculating Direct Materials and Direct Labor Variances Crystal Charm Company makes handcrafted silver charms that attach to jewelry such as a necklace or bracelet. Each charm is adorne with two crystals of various colors. Standard costs follow: Silver Crystals Direct labor Standard Quantity 0.40 ounce 7.00 1.50 hours Standard Price (Rate) $ 20.00 per ounce $ 0.25 crystal $ 10.00 per hours Standard Unit Cost $. 8.00 1.75 15.00 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. Curtal Charm's direct labor variances for the month of January.

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Description: 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 adornedwith two crystals of various colors. S

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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