The assistant management accountant of your company has been preparing the profit and loss statement for the week ended 31 October. Unfortunately, he has had a traffic accident and is now in hospital, so as senior cost analyst you have been asked to complete this statement. The uncompleted statement and relevant data are shown below:

The standard price of direct material used is £600 per tonne. From each tonne of material it is expected that 2400 units will be produced.
A forty-hour week is operated.
Standard labour rate per hour is £4.
There are 60 employees working as direct labour.
The standard performance is that each employee should produce one unit of product in three minutes.
There are four working weeks in October.
The budgeted fixed overhead for October is £76,800.

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Week ended 31 October Sales Standard cost: direct materials direct wages overhead Standard profit Variances 4 Fav/(Adv) Fav/(Adv) Direct materials: price (400) usage (300) total (700) 50,000