11 Problem Industries, the following From the Cost Ledger of Yamu information was obtained for the year 1978 : Rs. 2,800 Rent & Taxes for factory premises 5,200 Lighting of the factory 7,000 Depreciation (Plant) 24,000 Staff Salaries 12,000 Management salaries 9,000 Power Indirect wages 24,500 Repairs and maintenance (plant) 20,000 Cost of rectification of defective work 5,600 Consumable Stores 15,000 Selling expenses 14,600 General Expenses 9,200 Receipt from sale of scrap 2,400 Profit from guest house 1,000 Production was 1,00,000 units and the prime cost per unit was : Materials-Rs. 1.80 and wages-Rs. 1.20. The net selling price was Rs. 4:70 per unit. All the units were sold. As from 1st January, 1979, the selling price was reduced to Rs. 4:50 per unit. It was estimated that production could be increased in 1979 by 50 per cent without incurring any overtime or extra shift working. Prepare statements showing (1) different elements of cost for 1978 (2) Estimated costs and profit for 1979, assuming that 1,50,000 units will be produced and sold in the year. Assumptions required to be made in solving the problem should be stated