XYZ Corp. presents the following data for the quarter ending 30th June 2024:

Particulars	Amount (₹)
Direct Materials	5,00,000
Direct Labour	4,00,000
Manufacturing Overheads	3,00,000
Opening Work-in-Progress	1,00,000
Closing Work-in-Progress	1,50,000

1. PREPARE the manufacturing account.
2. COMPUTE the cost of goods manufactured.
3. ANALYZE the impact on cost of goods manufactured if direct materials cost increases by 10%.
4. EVALUATE the effect of reducing manufacturing overheads by 5%.
5. DISCUSS the significance of efficient production cost management.