3. You are required to Compute all variances for a product X, the standard cost data per unit of output for which are as follows: Direct material 20kg @ Rs. lOper kg Direct labour 12 hours at Rs. 5.50 per hour Variable overheads 12 hours at Rs. 10 per hour Fixed overheads Rs.9,00,000 per month based on a normal volume of 60,000 direct labour hours Selling price Rs. 600 per unit The costs incurred and other relevant information for the month of June2020 are as under Direct material used 1,00,000 kg at a cost of Rs. 10,50,000 Direct wages paid Rs. 3,10,000 for 62,000 hours worked Overheads Rs.15,26,000 out of which a sum of Rs.9,40,000 is Fixed Actual output 4,800 units sold for Rs. 28,32,000 Assume no stocks of work-in-progress or nished goods at the beginning or at the end of the month