Q company manufactures ring binders which are embossed with the customer's own logo. A customer has ordered a batch of 700 binders. The following illustrates the cost of a typical batch of 100 binders : Direct Material ₹

Q company manufactures ring binders which are embossed with the customer's own logo. A customer has ordered a batch of 700 binders. The following illustrates the cost of a typical batch of 100 binders : Direct Material ₹70 Direct Labour ₹25 Machine set up ₹10 Design and Art work ₹35 Prime Cost ₹140 Direct employees are paid on a piecework basis. Q company absorbs production overheads at a rate of 24% of direct wages cost. 6% is added to the total production cost of each batch to allow for selling, distribution and administration overheads. Q company requires a profit margin of 20% on sales value. The selling price for 700 units (to the nearest ₹) will be :