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A manufacturing company incurred the following costs during the year: Expense Component Amount ($) Direct Materials $4,000,000 Direct Labor $3,200,000 Variable Overhead $2,500,000 Fixed Overhead

A manufacturing company incurred the following costs during the year:

Expense Component

Amount ($)

Direct Materials

$4,000,000

Direct Labor

$3,200,000

Variable Overhead

$2,500,000

Fixed Overhead

$2,800,000

Prepare a statement showing the cost of goods manufactured and cost of goods sold for the year.

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