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ABC Ltd. incurred the following costs during the month: Cost Component Amount ($) Direct Materials $18,600,000 Direct Labor $16,224,000 Variable Overhead $12,953,600 Fixed Overhead $18,600,000
ABC Ltd. incurred the following costs during the month:
Cost Component | Amount ($) |
Direct Materials | $18,600,000 |
Direct Labor | $16,224,000 |
Variable Overhead | $12,953,600 |
Fixed Overhead | $18,600,000 |
Calculate the total manufacturing cost incurred during the month and prepare a cost of goods sold statement using the absorption costing method.
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