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Don't answer if you don't know and within few minutes 32 The following cost figures have been extracted from the books of Glazing Limited relating to the production of 4,000 castings during the year 2011 : Rs. Stock of raw materials on 1st January, 2011 35,000 Stock of raw materials on 31st December, 2011 4,900 Purchase of raw materials 52,500 Factory wages 95,000 Factory expenses 17,500 Establishment expenses 10,000 Completed stock in hand on 1st January, 2011 Nil Completed stock in hand on 31st December, 2011 35,000 Sales 1,89,000 The company wants to quote for a contract, for the supply of 1,000 castings during the year 2011. The casting to be quoted are of uniform quality and make and similar to those manufactured in the previous year, but the cost of materials has increased by 15% and cost of factory labour has increased by 10%. Prepare : (a) Cost statement for the year 2011. (b) Statement showing price to be quoted for supply of 1,000 castings to give the same percentage of profit on turnover as was realised during the year 2011