Razdan & Co. manufactures a new product. It had to revise its standard cost owing to temporary distortions caused to its standards by uncontrollable factors. During that month, it manufactured 1,000 kgs of the product. The following price details are available from its records for the month of March.

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Materials Standard Cost Rs. Rs. 700 kgs @ Rs. 10 = 7,000 700 kgs @ Rs. 12 = 8,400 X 300 kg@Rs. 206,000 13,000 300 kg @Rs.25= 7,500 15,900 Revised Standard Cost Rs. Actual Cost Rs. 700 kgs @ Rs. 15 = 10,500 300 kg @Rs.30= 9,000 19,500 You are required to compute material variances.