Antration font management Accountant of your company has been preparing the profit and loss account for the ook ended 31st October. Unfortunately, he has had a traffic accident and is now in a hospital, so as senior cost mol you have been asked to complete this statement. The uncompleted statement and relevant data are pown below Wook ended 3131 October 50.000 ondord Cost: Drect materials Diect wages Overhead Sondard profit Fav./(adv.) Fovlady) Variances Direct materials: Price (400) (300) Usage Total: (700) Orect Labour: Pate elfciency Total Ovechead expenditure Volume Total Totol variance Actual Profit Strategic Cost Management . Standard Data The standard price of direct material used is 3600 per ton. From each tone of material it is expected that 2.40) units will be produced. A forty hour week is operated. Standard labour rate per hour is 24. There are 60employees working as direct labour The standard performance is that each employee should produce one unit of product in 3 minutes. There are working weeks in October. The budgeted fixed overhead for October is 76,800. Actual data Materials used during the week were 20 tones at +620 per tone. During the week 4 employees were paid of 842 p.h and 6 were paid 3.8 p.h and Remaining were paid at Standard Rate Overheads incurred was 18000. You are required to complete the P & L Statement for the week ended 31st Oct