7. The Russell Company provides the following standard cost data per unit of product: Direct material (3 gallons @ S6 per gallon) $ 18.00 Direct labor (2 hours a $10 per hour)$ 20.00 During the period, the company produced and sold 22,000 units incurring the following costs: Direct material 68,000 gallons @ S5.90 per gallon Direct labor45,500 hours a S9.75 per hour Indicate the material AND labor, price AND usage variance (points will be deducted if you do not indicate favorable or unfavorable)