Case 2: Izki manufacture LLC has the following cost information for industrial product. The production schedule for the month of March 2020 required completion of 5,500 pieces. However, 5,000 pieces were completed. Purchases for the month March 2020 amounted to 50,000 kg of material at the total invoice price of RO 200,000 (actual). Production records for the month of March 2020 showed actual materials used is 40,000 Kg and actual direct labor used is 20,000 hours RO 60,000. Standard cost of Material per completed piece is 20 Kg @ RO 10 and standard labor cost is 10 hours @ RO 4 The manager of the company requested you to: (4 + 6 - 10 Marks) a. Calculate material variances and comment on the results