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A manufacturing company incurred the following costs during the year: Expense Component Amount ($) Direct Materials $12,000,000 Direct Labor $9,600,000 Variable Overhead $7,200,000 Fixed Overhead

A manufacturing company incurred the following costs during the year:

Expense Component

Amount ($)

Direct Materials

$12,000,000

Direct Labor

$9,600,000

Variable Overhead

$7,200,000

Fixed Overhead

$7,920,000

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

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