Home For AAT student members AQ 2013 AAT Level 4 (Level 8 in Scotland)

Budgeting help

I can't seem to work out the following question so would appreciate anyone's input.

This year's budget for raw materials was set at £319,770. This assumed a 2% price increase from the previous year together with a reduction in production volume of 5%.

However production volume remains static and the price increase is 3%.
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