Pemcon Industries Ltd. Sumits the following data for October.

The marketing department provided the following sales estimates for the month of November and December.

DescriptionNovember December

Commercial sales Rs. 250,000Rs. 300,000

Government salesRs. 100,000Rs. 115,000

Other relevant information pertains to following data:

• Cost of goods sold: 46% of total sales
• Advertisement expenditure: 4,000 each month.
• Selling expenses: 10% of total sales.
• Administrative expenses 16.8% of gross profit.
• General office expense 12% of gross profit
• Other income Rs. 8,000 per month
• Corporate income tax rate: 40%

Required:

A forecast income statement with schedule showing cost of goods manufactured and sold.