Due to lack of food after the flood devastation in Pakistan, Khan, a Secondary School teacher decided to start a milk and bread business in July 2022. Assume Khan's business expenditure and income is converted from Pakistani Rupee to Australian Dollar (AUD). Khan started his business by utilising his bank savings worth AUD 120,000 from which he was earning 5% interest per month. Also, Khan uses his own premises from which his rental earnings are AUD 5,000 per month. Further, in order to manage his business Khan decided to quit his job from which he was earning AUD 5000 per month. Finally, the table below represents Khan's July business summary.

Item	Cost (AUD)
Milk section cashflow
1 Milk truck	90,000
Milk stainless cans	20,000
Milk cooler	50,000
2 litre milk packs (Cost depends on milk bought. Assume average per month)	5,000
Office desk	300
2 computers (Assume each computer costs 2500)	2,500
2 cashiers (wages depend on hours worked. Assume this is the average monthly wage per worker)	4,000
Bread Section cash flow
2 Bread Mixers (Cost per bread mixer of 14,000 per machine)	14,000
Commercial refrigerator	4,000
2 Support Workers (wages depend on hours worked. Assume 3000 is the average monthly wage per worker)	3000
Cost of monthly bread dough sweeter ingredients (Depend on demand - Assume this is the average expenditure per month)	5,000
Bread van	25,000
Dough proofer machine	15,000
Bread heavy duty oven	6,000
2 Sheet pan racks (Cost per sheet pan rack is 1000)	1000
Bakeware tools (Assorted bakeware tools include: bread pans, muffin tins, cake pans, knives and spatulas)	5,000
Assume on average 95,000 litres of milk are purchased and sold for the month of July. Also assume that the selling price per litre of milk is AUD 2.00 Assume on average 20,000 loaves of bread are produced and soldper month for month of July. Also assume that the selling price per loaf of bread is AUD 2.50

REQUIRED:

Use the table to answer the following:

1. Calculate Khan's fixed cost and average fixed cost for each section. Exclude implicit cost.
2. Calculate Khan's total cost and average total cost for each section. Exclude implicit cost.
3. Calculate Khan's accounting profit and economic profit for the month of July.