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ABC Ltd. incurred the following costs during the month: Cost Component Amount ($) Direct Materials $12,240,000 Direct Labor $10,656,000 Variable Overhead $8,524,800 Fixed Overhead $12,240,000

ABC Ltd. incurred the following costs during the month:

Cost Component

Amount ($)

Direct Materials

$12,240,000

Direct Labor

$10,656,000

Variable Overhead

$8,524,800

Fixed Overhead

$12,240,000

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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