The Russell Company provides the following standard cost data per unit of product Direct material (3 gallons @ $4 per gallon) Direct labor (2 hours @ $12 per hour) $12.00 $24.00 During the period, the company produced and sold 25,000 units, incurring the following costs Direct material Direct labor 78,000 gallons @ $ 3.90 per gallon 51,000 hours @ $11.75 per hour The direct labor price variance was