The standard cost card of a product shows the following:

Material Cost : 2kg. @ Rs. 2.50 per kg. Rs. 5.00 per unit

Wages : 2 hours @ 50 P. per hour Rs. 1.00 per unit

The actuals which have emerged from business operation are as follows:

Production : 8,000 units

Material consumed : 16,500 kg. @ Rs. 2.40 per kg. Rs.39, 600

Wages consumed : 18,000 hours @ 40 P. per hour Rs. 7,200

Calculate appropriate Material and Labour variances.