Grip's accountant wishes you to prepare the flexible budget variances for direct labor. You are provided with the following standard and actual data for direct labor: Prepare the following flexible budget variances for direct labor clearly indicating whether each variance is favorable or unfavorable: Labor rate (i.e/price) variance Labor efficiency variance Total direct labor cost variance (i.e. the total flexible budget cost variance for direct labor) Using your results from parts i) to iii), briefly explain explain whether the company's sourcing and use of direct labor were better or worse than planned during 2015