Omega Manufacturing Company produces furniture. The standard cost for producing one unit of furniture is as follows:

• Direct Materials: SAR 150
• Direct Labor: SAR 80
• Variable Overhead: SAR 30 During August 2024, the company produced 700 units of furniture. The actual costs incurred were:
• Direct Materials: SAR 110,000
• Direct Labor: SAR 60,000
• Variable Overhead: SAR 25,000 Calculate the direct material, direct labor, and variable overhead cost variances. Provide explanations for the variances and suggest possible actions for management.