The Standard costs based on 20,000 hours and producing 16,000 units based on 100% capacity are Direct Material 5 Kgs. at Rs. Rs. 2 per kg Direct Labor Rs. 10 per hour Factory Overhead Fixed Cost Rs. 50,000 Variable Cost Rs. 3 per direct labor hours The company is producing 14,400 units on which Rs. 95,000 incurred as a factory overhead and on direct labor at Rs. 11 on 17,500 hours. The total material consumed 73,250 kgs at Rs. 2.10 Required: Calculate 1. Material two-variance. 2. Labor two-variance. 3. Factory overhead two-variance