Refer to the data in Brief Exercise 14-21. (a) What was the direct labor rate variance for the month, rounded to 2 decimal places? (b) Was this variance favorable (F) or unfavorable (U)?

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SCHMIDT MACHINERY COMPANY Income Statement For 2019 $624,000 Sales (Exhibit 14.4), at standard selling price Add: Selling price variance (Exhibit 14.4) 15,600F Net sales, at actual selling price $639,600 Cost of goods sold (at standard: 780 units x $520 per unit) (Exhibit 15.2) $405,600 Add: Net manufacturing cost variance 37,000U* Total cost of goods sold Gross margin 442,600 $197,000 Selling and administrative expenses ($39,000 variable + $30,000 fixed)* 69,000 Operating income (before disposition of sales volume variance-see Chapter 16) $128,000