Nike Inc. 

• February 2025 Costs:
  • Direct materials: $400,000
  • Direct labor: $200,000
  • Factory overheads: $160,000
  • Selling expenses: $110,000
  • Administrative expenses: $90,000
  • Units produced and sold: 24,000 units
  • Sales revenue: $1,200,000

Requirements:

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