Can I please get help with this question including an explaination of how to categorize?? A review of the accounting records of Baird Manufacturing indicated that the company incurred the following payroll costs during the month of March. Assume the company's financial statements are prepared in accordance with GAAP. Salary of the company president—$75,000. Salary of the vice president of manufacturing—$50,000. Salary of the chief financial officer—$42,000. Salary of the vice president of marketing—$40,000. Salaries of middle managers (department heads, production supervisors) in manufacturing plant—$147,000. Wages of production workers—$703,500. Salaries of administrative personnel—$60,000. Salaries of engineers and other personnel responsible for maintaining production equipment—$133,500. Commissions paid to sales staff—$146,000. Required What amount of payroll cost would be classified as SG&A (selling, general, and administrative) expense? Assuming that Baird made 5,000 units of product and sold 4,000 of them during the month of March, determine the amount of payroll cost that would be included in cost of goods sold. Note: Do not round intermediate calculations. Payroll cost accounted for in SG&A Payroll inclujded in cost of goods

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 3TP: Assume you are a newly-hired accountant for a local manufacturing firm. You have enjoyed working for...

What amount of payroll cost would be classified as SG&A (selling, general, and administrative) expense?
Assuming that Baird made 5,000 units of product and sold 4,000 of them during the month of March, determine the amount of payroll cost that would be included in cost of goods sold.
Note: Do not round intermediate calculations.