Consider the following data collected for Seaside Construction Trailers:Direct MaterialsDirect Manufacturing Labour Required Compute the rate, efficiency, and flexible$-$budget variances for direct materials and direct manufacturing labour. Compute the rate, efficiency, and flexible$-$budget variances for direct materials. Label each variance as favourable $($F$)$ or unfavourable $($U$).$ Rate variance Efficiency variance Flexible$-$budget variance Compute the rate, efficiency, and flexible$-$budget variances for direct manufacturing labour. Label each variance as favourable $($F$)$ or unfavourable $($U$).$ Rate variance Efficiency variance Flexible$-$budget variance