LG Electronics:

• October 2025 Costs:
  • Direct materials: $600,000
  • Direct labor: $400,000
  • Factory overheads: $360,000
  • Selling expenses: $230,000
  • Administrative expenses: $190,000
  • Units produced and sold: 44,000 units
  • Sales revenue: $2,200,000

Requirements:

1. Calculate the total manufacturing cost.
2. Compute the cost per unit.
3. Prepare an income statement.
4. Determine the net profit.