Jones Limited uses an absorption costing system. It produces and sells one product only, the standard cost of which is as follows per unit: Rs Direct Materials: 4 Kilos @ Rs5 20 Direct Wages: 2 Hours @ Rs20 40 Variable overhead: 2 Hours @ Rs5 10 Fixed overhead: 2 Hours @ Rs8 16 Total Standard Cost 86 Standard Gross Profit 14 Standard Selling Price 100 The budgeted monthly production is 640 units. During the first month of the financial year, the following were the actual results for an actual production of 700 units. Number of units produced 700 Direct materials used 3,000 Kilos Rs 12,000 Direct labour hours 1300 Hours Rs 27,300 Variable overhead Rs 5,850 Fixed overhead Rs12,000 The actual selling price was Rs105 per unit. calculate the operating income