Problem 1.4 In respect of a factory the following particulars have been extracted for the year 2013 : Cost of materials 6,00,000 Wages 5,00,000 Introduction 1.37 Factory overheads 3,00,000 Administration charges 3,36,000 Selling charges 2,24,000 Distribution charges 1,40,000 Profit 4,20,000 A work order has to be executed in 2014 and the estimated expenses are : Materials * 8,000, wages * 5,000. Assuming that in 2014, the rate of factory overheads has gone up by 20%, distribution charges have gone down by 10% and selling and administration charges have gone each up by 15%, at what price should the product be sold so as to earn the same rate of profit on the selling price as in 2013 ? Factory overheads are based on wages and administration, selling and distribution overheads on