3. Variance Analysis (12 points). The Russell Company provides the following standard cost data per unit of product: Standard costs: Direct material per unit: 4 gallons $5.00 per gallon Actual costs for producing and selling 25,000 units: Direct materials 102,000 gallons at $4.90 per gallon S/M = $ per unit 5.00/ From the information given above, calculate the following variances. Be sure to circle For U to indicate whether each Direct Material (DM) variance is favorable (F) or Unfavorable (U). = 1. DM Price Variance: 2. DM Quantity Variance: For U 3. Overall DM Variance: SA-44.90 QA- 25,000 _F or u Foru $S - $5.00 QA-25,000 u $5 - $5.00 QS