b) Using the standard costing method and the template below, produce a basic account sheet to calculate the net profit/loss of the two months. Assume that the values before QC are the standard, and you have also been given the following information: There are 31 days in both months. All units that pass quality control are sold. The monthly wage bill is 55,083 in the new manager is hired, and 58,000 afterwards. The company pays 3,000 a month in rent. Overheads were 300 in the month before QC, and 275 in the month after QC. Variances were 8.460 in the month before QC, and 10,320 the month after. Costing Table Template: Units Produced Units Sold Month Gross Sales Profit Material cost Net Sales Wages Rent Utilities Overheads Variances Net Profit/Loss Before After QC QC 4 1 mA drawn 1-10 11-20 21-30 31-40 41-50 4 1 5 3 2 4 18 20 30 35 21 23 11 51-60 61-70 71-80 81-90 91-100 Total 12 1 2 3 0 100 100 b) Using the standard costing method and the template below, produce a basic account sheet to calculate the net profit/loss of the two months. Assume that the values before QC are the standard, and you have also been given the following information: There are 31 days in both months. All units that pass quality control are sold. The monthly wage bill is 55,083 in the new manager is hired, and 58,000 afterwards. The company pays 3,000 a month in rent. Overheads were 300 in the month before QC, and 275 in the month after QC. Variances were 8.460 in the month before QC, and 10,320 the month after. Costing Table Template: Units Produced Units Sold Month Gross Sales Profit Material cost Net Sales Wages Rent Utilities Overheads Variances Net Profit/Loss Before After QC QC 4 1 mA drawn 1-10 11-20 21-30 31-40 41-50 4 1 5 3 2 4 18 20 30 35 21 23 11 51-60 61-70 71-80 81-90 91-100 Total 12 1 2 3 0 100 100