Problem 5.5 The following data are available from the Cost Ledger of Acme Industries for the year 2011: Plant Maintenance Lighting Depreciation on Plant Rates and Taxes for the Works Staff Salaries Management Salaries Power (for this plant) Rental for Leasehold Equipments Indirect Wages Rectification Cost of Defectives (Normal) Consumable Stores Selling Expenses General Charges Sale Proceeds from Scrap 25,000 6,300 8,100 3,900 32,000 22,000 10,600 9,600 37,100 8,400 17,600 30,000 15,600 4,200 During the year total production was 1,20,000 units. The break-up of prime cost per unit was: materials 0.20 and wages 1.80. The average selling price was 6.75 per unit and entire quantity produced during the year was Sold out With effect from 1 January 2012, the selling price was reduced to %.40 per unit. It was tuat production could be enhanced during 2012 by 331k per cent without incurring any overtime or extra-shift work/ or additional selling expenses. You are required to prepare statements showing: (1) Actual cost and profit for the year 2011. (i) Estimated cost and profit for 2012 assuming that the entire production will be sold during the year