Maple Leaf Ltd, a manufacturer of fibre optic communications equipment, uses a job-order costing system. Since the production process is heavily automated, manufacturing overhead is applied on the basis of labour hours using a predetermined overhead rate. Operations for the year have been completed, and ll of the accounting entries have been made for the year except the application of manufacturing overhead to the jobs worked on during November, the transfer of costs from Work in Process to Finished Goods for the jobs completed in November, and the transfer of costs from Finished Goods to Cost of Goods Sold for the jobs that have been sold during November. Summarized data as of November Operations: ACCOUNT BALANCES 1-Nov 30-Nov Finished Goods RS.70,000 Rs.60,000 Work in Process 50,000 ? Direct Materials 10,000 20,000 Accounts payable ? 15,000 Accrued Payroll 10,000 20,000 Accumulated Depreciation-Office equipment 80,000 90,000 Other information: a) Direct materials purchased on account during November, Rs.55, 000 and returned Rs.5000. b) During November, direct labor employees worked 30,000 hours at a rate of Rs.6 per hour. c) Jobs 385,386 and 387 were still in process at the end of November. A total of Rs.5, 000 of direct materials has been charged to these three jobs. To date, 7,000 direct labour hours have been worked on these jobs. d) Sales revenue Rs.700, 000. e) Depreciation and other expenses Rs.50, 000 of which 30% related to factory. f) Interest expense Rs.10, 000. Required: Prepare Income statement for the month of November. Show all supporting computations.