The following data relates to a company's operating budget for its next operating year: Sales price per unit (£) 29 Sales volume (units) 119,000 Costs: Materials (£) 52,500 Labour (£) 33,800 Energy...

Extracted text: The following data relates to a company's operating budget for its next operating year: Sales price per unit (£) 29 Sales volume (units) 119,000 Costs: Materials (£) 52,500 Labour (£) 33,800 Energy (£) 25,000 Depreciation (£) 105,000 The budget has been prepared using the following assumptions: Materials costs are variable. Labour costs are semi-variable with a fixed element of £15,000. 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 7% The sales volume will increase by 7% The rise in the energy prices should be revised to 8% What will be the company's new energy cost for the year?