A review of the accounting records of Fanning Manufacturing
indicated that the company incurred the following payroll costs
during the month of March. Assume the companies financial
statements are prepared in accordance with GAAP.
Salary of the company president—$32,000.
Salary of the vice president of manufacturing—$16,000.
Salary of the chief financial officer—$18,300.
Salary of the vice president of marketing—$16,200.
Salaries of middle managers (department heads, production supervisors) in manufacturing plant—$190,000.
Wages of production workers—$931,000.
Salaries of administrative secretaries—$110,000.
Salaries of engineers and other personnel responsible for maintaining production equipment—$172,000.
Commissions paid to sales staff—$260,000.
Required
What amount of payroll cost would be classified as SG&A expense?
Assuming that Fanning made 3,300 units of product and sold 2,805 of them during the month of March, determine the amount of payroll cost that would be included in cost of goods sold. (Do not round intermediate calculations.)
A review of the accounting records of Fanning Manufacturing indicated that the company incurred the following...
A review of the accounting records of Jordan Manufacturing indicated that the company incurred the following payroll costs during the month of March. Assume the companies financial statements are prepared in accordance with GAAP. 1. Salary of the company president-$32,700. 2. Salary of the vice president of manufacturing-$16,200. 3. Salary of the chief financial officer-$19,100. 4. Salary of the vice president of marketing-$15,400. 5. Salaries of middle managers (department heads, production supervisors) in manufacturing plant-$192,000. 6. Wages of production workers—$943,000....
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Exercise 10-6 Identifying product versus SG&A costs LO 10-2, 10-3 A review of the accounting records of Fanning 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 1. Salary of the company president-$32,400. 2. Salary of the vice president of manufacturing-$15,900. 3. Salary of the chief financial officer-$18,000. 4. Salary of the vice president of marketing-$15,400. 5. Salaries of middle managers (department heads,...
Check my work A review of the accounting records of Jordan 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. points eBook 1. Salary of the company president-$31,300. 2. Salary of the vice president of manufacturing-$16,500. 3. Salary of the chief financial officer-$18,500. 4. Salary of the vice president of marketing-$14,600. 5. Salaries of middle managers (department heads, production supervisors) in manufacturing plant-$206,000....
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Exercise 10-6 Identifying product versus SG&A costs LO 10-2, 10-3 A review of the accounting records of Perez 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. 1. Salary of the company president-$32,000. 2. Salary of the vice president of manufacturing—$15,500. 3. Salary of the chief financial officer—$18,500. 4. Salary of the vice president of marketing-$16,000. 5. Salaries of middle managers (department heads,...
Check my work Exercise 10-6 Identifying product versus SG&A costs LO 10-2, 10-3 A review of the accounting records of Fanning 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. 1. Salary of the company president-$31,000. 2. Salary of the vice president of manufacturing-$16,400. 3. Salary of the chief financial officer-$19,200. 4. Salary of the vice president of marketing-$15,700. 5. Salaries of middle...
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