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Widgets R Us is a manufacturing company. It incurred the following costs in 2012 for manufacturing 10,000 widgets. Direct material $8,000; Direct Labor $12,000; Factory

Widgets R Us is a manufacturing company. It incurred the following costs in 2012 for manufacturing 10,000 widgets. Direct material $8,000; Direct Labor $12,000; Factory overhead $20,000. The company also spent $30,000 on selling and administration expenses. The selling price of a widget is $10. If the company sells 5000 units, what is the gross profit?

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