For the stamping department of a manufacturing firm, the s for 2,200 cost for the stamping department for June was $2,190. tandard cost for direct labor is $14 per hour, and the production standard calls stampings per hour. During February, 146 hours were required for actual production of 319,000 stampings. Actual direct labor Required a. Complete the following performance report for February: (Undicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Flexed Budget ActualVar Variance Direct labor b. Calculate the direct labor efficiency and rate variances for February. (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 efficiency variance Direct labor rate variance c. Reporting the efficiency and rate variances to the appropriate managers could improve control over the stamping department's direct labor True False