Toyota Motor Corporation:

Cost Elements	Amount ($)
Direct Materials	940,000
Direct Labor	740,000
Factory Overheads	700,000
Selling and Distribution Expenses	400,000
Administrative Expenses	360,000
Units Produced and Sold	78,000 units
Sales Revenue	3,900,000

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.