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? O Negative 3,575 O Positive 1,100 O Positive 1,600 O Positive 1,900