Mukukulu Co uses a variance analysis system to monitor its performance. In a certain month the following data applies: 14 tonnes of Raw material are needed at a cost of K60 per tonne It takes 2 labour hours of work to produce 1 tonne of finished product and labour is normally paid K18 per hour. Idle time is expected to be 10% of hours paid; this is not reflected in the rate of K18 above. 2 hours of variable overhead at a cost of K30 per hour The standard selling price is K240 per tonne Budget information for the month is Fixed costs were budgeted at K210,000 for the month Budgeted production and sales were 8,400 tonnes The actual results for the month were as follows: Actual production and sales were 8,000 tonnes 12,000 tonnes of raw material were bought and used, costing K660,000 15,800 labour hours were paid for, costing K303,360 15,000 labour hours were worked Variable production overhead cost K480,000 Fixed costs were K200,000 Sales revenue achieved was K1,800,000 Required: (a) Prepare a standard cost card (4 Marks) (b) Prepare a statement reconciling budgeted profit to actual profit