1. ABC Manufacturing Inc. is evaluating its financial performance:

Category	Amount ($)
Cost of Goods Manufactured
- Direct Materials	$600,000
- Direct Labor	$400,000
- Manufacturing Overhead	$250,000
SG&A Expenses
- Salaries	$180,000
- Marketing	$70,000

1. Requirements:
   • Calculate the Cost of Goods Manufactured (CGM) for ABC Manufacturing Inc.
   • Determine the Gross Profit Margin.
   • Propose strategies to reduce manufacturing costs by 20% without compromising quality.
   • Analyze the impact of cost reductions on overall profitability.