Apple Inc. produces and sells gadgets. The following information relates to the production and sales for July 2024:

1. Direct materials used: $150,000
2. Direct labor: $80,000
3. Manufacturing overheads: $60,000
4. Selling expenses: $40,000
5. Administrative expenses: $30,000
6. Units produced and sold: 10,000 units
7. Sales revenue: $500,000

Requirements:

1. Calculate the total manufacturing cost.
2. Compute the cost per unit.
3. Determine the gross profit.
4. Calculate the net profit.