Tan Pte Ltd manufactures a product known as Axiom. The following standard cost apply to the product. Standard Cost Per Unit ($) Selling Price 130 Direct Materials (4 Kg X $5 per kg) 20 Direct Labour (5 Hours X $10 per hour) 50 Variable Overheads 20 Fixed Overheads 10 Standard Profit per unit 30 30,000 units were budgeted to be sold. The actual results for the month of August 2022 were as follows: $ Sales (32,000 units) 4,000,000 Less: Cost of Sales Direct Materials (118,000 KG) 708,000 Direct Labour (152,000 Hours) 1,824,000 Variable Overheads 550,000 Fixed overheads 350,000 Profit 568,000 Assume that production units are equal to sales units and that company uses an absorption costing system.