Answer:
Here's a cost statement for the year 2021:
Production of 1,500 units
Cost of raw materials = Rs. (20,000 x 1.2) = Rs. 24,000
Labour cost = Rs. (12,000 x 1.1) = Rs. 13,200
Fixed overheads = Rs. (8,000/2) = Rs. 4,000
Variable overheads = Rs. (8,000/2 x 1.5) = Rs. 6,000
Office overheads = Rs. 4,000
Selling expenses per unit = Rs. (1,000 x 0.8 / 1,500) = Rs. 0.53
Total cost per unit = Rs. (24,000 + 13,200 + 4,000 + 6,000 + 4,000) / 1,500 = Rs. 28.80
Profit = 25% of selling price
Selling price per unit = (28.80 / (1 - 0.25)) = Rs. 38.40
Total profit = (1,500 x 38.40 x 0.25) = Rs. 14,400
Therefore, the cost statement for the year 2021 shows a total profit of Rs. 14,400 and a selling price per unit of Rs. 38.40.