3. Z Ltd. has a profit plan approved for selling 10,000 units per month at an average selling price of Rs.20 per unit. The budgeted variable cost of production was Rs.5 per unit and the fixed cost were budgeted at Rs.30, 000. Due to shortage of raw materials, only 18,000 units could be produced and the cost of production increased by 50 paise per unit. The selling price was raised by Re.1.00 per unit. In order to improve the production process, an expenditure of Rs.3, 000 was incurred for research and development activities.

You are required to prepare Performance Budget and a Summary Report.