. Prepare cost of goods manufactured and Mr. Shah purchased raw material worth Rs. 1,37,500 and incurred direct labor cost of Rs. 87,500 during the year ended December 31, 2020. Factory overhead is applied to production at the rate of 40% of direct labor cost. The inventory balances are as follow:

	January 1	December 31
Materials	10,000	12,000
Work in Process	13,500	12,500
Fished goods	17,500	16,500