Genent industries, inc. (gii), developed standard costs for direct material and direct labor. in 2017, gii estimated the following standard costs for one of their major products, the 30minusgallon heavyminusduty plastic container. budgeted quantity budgeted price direct materials 0.7 pounds $ 30 per pound direct labor 0.8 hours $ 13 per hour during july, gii produced and sold 3 comma 000 containers using 2 comma 400 pounds of direct materials at an average cost per pound of $ 29 and 2 comma 490 direct manufacturing labor hours at an average wage of $ 13.50 per hour. july's direct material flexibleminusbudget variance is