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ABC Ltd. incurred the following costs during the month: Cost Component Amount ($) Direct Materials $15,720,000 Direct Labor $13,656,000 Variable Overhead $10,926,000 Fixed Overhead $15,720,000

ABC Ltd. incurred the following costs during the month:

Cost Component

Amount ($)

Direct Materials

$15,720,000

Direct Labor

$13,656,000

Variable Overhead

$10,926,000

Fixed Overhead

$15,720,000

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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