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