Toyota Motor Corporation:

Cost Elements	Amount ($)
Direct Materials	580,000
Direct Labor	380,000
Factory Overheads	340,000
Selling and Distribution Expenses	220,000
Administrative Expenses	180,000
Units Produced and Sold	42,000 units
Sales Revenue	2,100,000

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.