ILLUSTRATION 3 The following are the costing records for the year 2018 of a manufacturer : Production 1,000 units, Cost of raw materials $20,000, Labour cost $ 12,000, Factory overheads $8,000, Office overheads $4,000, Selling expenses $ 1,000, Rate of Profit 25% on the selling price. The manufacturer decided to produce 1,500 units in 2019. It is estimated that the cost of raw materials will increase by 20%, the labour cost will increase by 10%, 50% of the overhead charges are fixed and the other 50% are variable. The selling expenses per unit will be reduced by 20%. The rate of profit will remain the same. Prepare a cost statement for the year 2019 showing the total profit and selling price per unit