b$)$ Using the standard costing method and the template shown in Table $1\mathrm{.}2,$ produce a basic account sheet to

calculate the net profit$/$loss for a month pre and post the introduction of QC$.$ Assume that the values before QC

are the standard, and you have also been given the following information:

The company produces $50$ batches of circuits each day.

There are $20$ production days in a month.

Raw materials for each circuit costs $0\mathrm{.}10.$

Each circuit is sold for $0\mathrm{.}75.$

All units that pass quality control are sold.

The monthly wage bill is $19,500$ before the new manager is hired, and $21,000$ afterwards.

The company pays $3,000$ a month in rent.

Overheads were $300$ in the month before QC$,$ and $275$ in the month after QC$.$

Variances were $8\mathrm{.}460$ in the month before QC$,$ and $10,320$ the month after.

Table $1\mathrm{.}2$ Costing Table Template