Question: Rocket Inc, provides the following standard cost data per unit of product: Direct material (3 gallons @ $6 per gallon) Direct labor (2 hours @

Rocket Inc, provides the following standard cost data per unit of product: Direct material (3 gallons @ $6 per gallon) Direct labor (2 hours @ $10 per hour) $18.00 $20.00 During the period, the company produced and sold 22,000 units, incurring the following costs: Direct material Direct labor 69,000 gallons 45,500 hours @ $5.90 per gallon @ $ 9.75 per hour The direct material price variance was: $6,800 favorable $6,800 unfavorable. $6,900 favorable $6,900 unfavorable

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