Bafta Ltd makes plasterboard panels (units).

The standard cost of making each panel in 2019 is as follows:

		per unit
Direct material (plaster)	(6kg per unit @ 1 per kg)	6
Variable Overhead	(0.1 hours per unit @ 20 per hour)	2

Budgeted sales and production in 2019 was1,000,000 panels (units), budgeted sale price was 12 per panel and the budgeted fixed overheads was estimated at 1,100,000 per annum.

Actual data for 2019 has been released as follows:

Sales and production units	1,100,000 panels (units)
Material Cost	6.1 kg per unit @ 0.6 per kg (6710,000 kg in total)
Variable overhead Cost	0.07 hours per unit @ 22 per hour (77,000 hours in total)
Fixed overheads	1,112,000
Sales price	10.50 per unit

What was the flexed profit?