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ABC Ltd. incurred the following costs during the month: Cost Component Amount ($) Direct Materials $21,360,000 Direct Labor $18,648,000 Variable Overhead $14,850,600 Fixed Overhead $21,360,000

ABC Ltd. incurred the following costs during the month:

Cost Component

Amount ($)

Direct Materials

$21,360,000

Direct Labor

$18,648,000

Variable Overhead

$14,850,600

Fixed Overhead

$21,360,000

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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