The following information is for the Harding Company for 2018:

Dec. 31 Jan. 1

Raw Materials Inventory $330 $340

Work in Process $340 $190

Finished Goods $350 $370

Direct materials used $1,130

Total Manufacturing costs charged to production of which $855 was manufacturing overhead $3,340

Selling and administrative expenses $2,460

Sales revenue $6,390

Required:

(1) What is the cost of materials purchased?

(2) What is the cost of goods sold?

(3) What is gross profit?

(4) What is net profit?