Jolly Shoes Co. manufactures two types of shoes A and B. Production costs for the year ended 31 March 2010 were: $ 15,00,000 Direct materials 8,40,000 3,60,000 Production overheads 27,00,000 Direct wages There was no work-in-progress at the beginning or at the end of the year. It is ascertained that: (a) Direct material in type A shoes consists twice as much as that in type B shoes; (b) The direct wages for type B shoes were 60% of those of type A shoes; (c) Production overhead cost was the same per pair of A and B type; (d) Administrative overhead for each type was 150% of direct wages; (e) Selling cost was $1.50 per pair; (A) Production during the year were: Type A 40,000 pairs of which 36,000 were sold; Type B 1,20,000 pairs of which 1,00,000 were sold; (8) Selling price was $ 44 for type A and 528 for type B per pair. Prepare a statement showing cost and profit