The following information has been collected from the cost records of a small company for the year ended 31st March:

 

Rs

 Direct Materials  

 2,50,000  

 Direct Labour  

 2,00,000  

 Direct Expenses  

20,000

 Works Overheads  

 1,60,000  

 Office Expenses  

94,500

The total number of direct labour hours were 1,00,000 involving 40,000 machine hours. What should be the price quoted for a job involving 2,000 labour hours @ Rs.3 per hour, 1,000 machine hours and Rs.10,000 in direct materials if the profit desired is 20% on the selling price?