The following data pertain to the operations of Falcon Company for the month:
On October 1, the company had the following inventories:
Material Rs. 24,000; finished goods Rs. 36,000.
During the month, materials purchased totaled Rs. 56,000; direct labor for October was Rs. 40,000, at a uniform wage rate of 6.40 per hour.
Marketing and administrative expenses for the month amounted to 10% of the net sales.
Inventories on Oct 31 were as follows.
Materials Rs. 20,000; finished goods Rs. 40,000. Net sales for October totaled Rs. 200,000. Factory overhead is applied to production on the basis of Rs. 8 per direct labor hour.
(1) Prime cost; (2) Conversion cost; (3) Cost of goods manufactured; (4) Cost of goods sold