Question 33 The following data relates to a company's operating budget for its next operating year: Sales price per unit () 30 Sales volume (units) 151,000 Costs: Materials () 23,000 Labour () 24,000 Energy () 24,000 Depreciation () 105,000 The budget was prepared using the following assumptions: Materials costs are variable. Labour costs are semi-variable with a fixed element of 9,000. Depreciation is a fixed cost. An allowance for an energy price increase of 12% has already been included in the energy costs. The company now wishes to revise the data to incorporate the following updated assumptions: Selling prices will be reduced by 11% The sales volume will increase by 15% The rise in the energy prices should be revised to 6% What will be the company's new labour cost for the year?