$7.$ The following data$($Rs$)$ are available from the Cost Ledger of Acme Industries for the year $2022$:

During the year total production was $1,20,000$ units. The breakup of prime cost per unit was : Material Rs$.2\mathrm{.}20$ and wages Rs$.180.$ The average selling price was Rs$.6\mathrm{.}75$ per unit and the entire quantity produced during the year was sold out.

With effect from January $1,2023,$ the selling price was reduced to Rs$.6\mathrm{.}40$ per unit. It was envisaged that production could be enhanced during $2013$ by $100/3\%$ 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 $2022$

$2.$ Estimated cost and profit for $2023$ assuming that the entire production will be sold during the year.