XYZ Inc. is a manufacturing company that produces two products, Product A and Product B. The company's cost of production for Product A is $20 per unit and for Product B is $30 per unit. The company sells Product A for $50 per unit and Product B for $40 per unit. The company plans to sell 1,000 units of Product A and 500 units of Product B in the next quarter.

Calculate the company's total revenue, total cost of production, and profit for the next quarter. Show all calculations and explain your reasoning.