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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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