Nike provided the following data for its shoe manufacturing division for Q1 2023:

Item	Amount (in $)
Opening Inventory (Raw Materials)	80,000
Purchases	600,000
Closing Inventory (Raw Materials)	100,000
Direct Labor	350,000
Manufacturing Overhead	200,000
Opening Inventory (Finished Goods)	150,000
Closing Inventory (Finished Goods)	120,000
Sales	2,000,000
Selling Expenses	300,000

Requirements:

1. Calculate the Total Direct Materials Used.
2. Determine the Total Manufacturing Costs.
3. Compute the Cost of Goods Manufactured.
4. Calculate the Cost of Goods Sold.
5. Prepare the Gross Profit Statement for Q1 2023.