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ABC Ltd. incurred the following costs during the month: Cost Component Amount ($) Direct Materials $15,480,000 Direct Labor $13,464,000 Variable Overhead $10,771,200 Fixed Overhead $15,480,000

ABC Ltd. incurred the following costs during the month:

Cost Component

Amount ($)

Direct Materials

$15,480,000

Direct Labor

$13,464,000

Variable Overhead

$10,771,200

Fixed Overhead

$15,480,000

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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