The following information is available from the cost records of Vatika & Co., for the month of August 2017: Material Purchased - 30,000 Kg, Rs. 135,000; Material Consumed - 28,800 Kg Actual Wages paid for 7,940 Hours, Rs. 39700, Units Produced - 2700 Units Standard rates and prices are: Direct Material Rate is Rs. 4. 10 per unit; Direct Labour Rate is Rs. 4.40 per hour Standard Input is 10 Kg for one Unit, Standard Requirement is 2.8 Hours per Unit Calculate all material and labour variances for the month of August 2017. Comment on your findings