Q.1.b. In a single process production system, Decent Co produces wool gloves. For November 2020, the company's accounting records reflected the following: Beginning WIP Inventory (100% complete as to materiat 40% complete as to direct labor: 60% complete as to overhead) 12,000 units Units started during the month 90,000 units Ending WIP Inventory (100% complete as to material: 40% complete as to direct latior, 80% complete as to overhead) 20,000 units Cost component November 1 During November Direct material Rs. 13,020 Rs.90,000 Direct labor 1,908 45,792 Overhead 4,636 87,168 Required: 1. For November, prepare a cost of production report assuming that the company uses the FIFO method. 2. Describe the varlance in unit cost of products completed out of the opening WIP inventories with that of the units started and completed during current period under FIFO costing method