The books and records of Good Luck Manufacturing Co. present the following data for the month of January 2010:

Direct labour cost: Rs. 32,000 (160% of factory overhead)

Cost of goods sold: Rs. 1,12,000 Inventory accounts showed these opening and closing balances:

You are required to prepare a statement showing cost of goods manufactured and sold and profi t earned.

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January 1 January 31 Rs. Rs. Raw material 16,000 17,200 Work-in-progress 16,000 24,000 Finished goods 28,000 36,000 Other data: Selling expenses 6,800 General and administration expenses 5,200 Sales for the month 1,50,000