NTC manufactures bed sheets and pillowcases which it supplies to a major hotel chain. It uses just-in-time system and holds no inventories. The standard cost for cotton which used to make the bed sheets and pillowcases is 5 per sq/m. Each bed sheet uses 2sqm of cotton and each pillowcase uses 0.5sqm. Production levels for bed sheets and pillowcases for November were as follows: Budgeted production Actual production Levels (units) levels (units) Bed sheets 120,000 120,000 Pillowcases 190,000 180,000 The actual cost of the cotton in November was 5.8per sqm. 248,000sqm of cotton was used to make the bed sheets and 95,000 sqm was used to make the pillowcases. The world commodity prices for cotton increased by 20% in the month of November. At the beginning of the month, the hotel chain made an unexpected request for an immediate design change to the pillowcases. The new design required 10% more cotton than previously. It also resulted in production delays and therefore a shortfall in production of 10,000 pillowcases in total that month. The production manager at NTC is responsible for all buying and any production issues which occur, although he is not responsible for the setting of standard costs. Required: a) Calculate the following variances for the month of November, for both bed sheets and pillowcases (i) Material price planning variances (5 marks) (ii) Material price operational variances (5 marks) (iii) Material usage planning variances (5 marks) (iv) Material usage operational variances (5 marks)