Question 32 Wheeler Corporation produces and sells special wheels for sports cycles. In 2020- 21, the company budgeted for production and sales of 12,000 wheels. However, the company produced and sold just 11,000 wheels. Each wheel has a standard requiring 500 grams of steel at a budgeted cost of Rs. 80 per kg. Actual costs of production for 11,000 wheels were Rs.4,37,400 for materials (5400 Kgs) Calculate the direct material price variance Calculate the direct material usage variance