Areview 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 secretaries—$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 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.

$363,000 and $827,200

Explanation:

The computation of the payroll cost classified as a SG&A expense is shown below:

= Salary of the company president + Salary of the chief financial officer + Salaries of administrative secretaries + Commissions paid to sales staff + Salary of the vice president of marketing

= $75,000 + $42,000 + $60,000 + $146,000 + $40,000

= $363,000

The amount of payroll cost that would be included in cost of goods sold would be

= Wages of production workers + Salaries of middle managers + Salary of the vice president of manufacturing + Salaries of engineers and other personnel responsible for maintaining production equipment

= $703,500 + $147,000 + $50,000 + $133,500

= $1,034,000

For 4000 units it would be

=  $1,034,000 × 4,000 units ÷ 5,000 units

= $827,200

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