Johnson & Johnson:

Cost Elements	Amount ($)
Direct Materials	300,000
Direct Labor	170,000
Factory Overheads	140,000
Selling and Distribution Expenses	100,000
Administrative Expenses	80,000
Units Produced and Sold	16,000 units
Sales Revenue	800,000

Requirements:

1. Prepare a cost of goods manufactured statement.
2. Calculate the cost of goods sold.
3. Compute the gross profit.
4. Determine the net profit.