The Russell Company provides the following standard cost data per unit of product: Direct material (3 gallons @ $5 per gallon) Direct labor (2 hours @ $12 per hour) $ 15.00 $ 24.00 During the period, the company produced and sold 24,000 units, incurring the following costs: Direct material Direct labor 75,000 gallons @ 48,500 hours $ 4.90 per gallon @ $11.75 per hour The direct labor price variance was: Multiple Choice $12,125 favorable. $12,000 unfavorable. $12,000 favorable. $12,125 unfavorable.