Following is a partially completed performance report for a recent week for direct labor in the binding department of a book publisher: Original Budget Flexed Budget Actual Budget Variance Direct labor $13,250 $14,040 The original budget is based on the expectation that 12,720 books would be bound the standard is 24 books per hour at a pay rate or $25 per hour. During the week, 14.400 books were actually bound. Employees worked 540 hours at an actual total cost of $14,040. Required: o. Calculate the flexed budget amount against which actual performance should be evaluated and then calculate the budget variance (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance).) b. Calculate the direct labor efficiency variance in terms of hours. (Indicate the effect of each variance by selecting "F" for fovorable, "U" for unfavorable, and "None" for no effect fi.e., zero variance).) c. Calculate the direct labor rate variance. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance), a Flexed budget Budget variance Direct tabor efficiency variance Direct laborate ance hours