Elemeno Ltd marks up labour and materials by 50%. They quote a client 21,000 for labour and 27,000 for materials. At Elemeno Ltd's year end, it is estimated they have utilised 60% of the labour at a cost 8,000. They have purchased 100% of the materials to take avail of a discount, costing 16,000 in total and have so far used 75% of those for the job. What is the profit variance they are running on the project at year end if they are permitted to bill on the basis of earned value? Negative 3,575 Positive 1,100 Positive 1,600 Positive 1.900