It is hard to speculate on the production cost of a tyre, because teams do not pay for the single tyre, a complete set or all used tyres on a weekend anymore. Nowadays all teams pay a flat fee between 2.5 and 4.5 million Euro per season to their tyre supplier Pirelli.
That sounds a lot initially, but you have to take into account the total numbers and what else comes with it. For each of the 20 race weekends in the 2012 Formula 1 season, Pirelli provides each team with 144 tyres. That amounts to 36 sets or 18 sets per driver for each race. Any tyres, no matter if used or not, are returned to Pirelli who destroys and recycles them.
If you were to calculate a price out of that, you'd get to a range of ~875-1600 Euro per tyre, but it's not the whole truth.
The tyre supplier does more than supply the black gold. The flat fee comes with technical support and a free tyre engineer and who knows what else. Also, teams do not necessarily pay the (full) sum but pay in other ways, like with sponsor displays on their cars.
The recommended tire size for a 27x1 1/8 bike tire is 700x28c.
The recommended tire size for a 27x1 1/4 bike tire is 27 inches in diameter and 1 1/4 inches in width.
The recommended tire size for a bike that requires a 27 x 1 1/4 tire is 27 inches in diameter and 1 1/4 inches in width.
You would need a 700c tire as it is the modern equivalent size to a 28 x 1 5/8 tire.
The equivalent size of a bike tire that is 27 x 1 1/4 is 700c x 32mm.
Depending on circuits
The recommended tire size for a 27x1 1/8 inner tube is 27 inches in diameter and 1 1/8 inches in width.
The current engine size for Formula One cars are 2.4 Litre V8's. This rule has been in place since the 2006 Season.
For a tire that is 27 x 1 1/4, you should use a bike tube that is 27 x 1 1/4 in size.
On the nose of the car.
The formula 1 car to be supplied by Honda was at the 1964 German GP.
The formula 1 car to be supplied by Renault was at the 1977 British GP