A review of the accounting records of Rundle 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 $32,300. 2. Salary of the vice president of manufacturing $15,300. 3. Salary of the chief financial officer $17,900. 4. Salary of the vice president of marketing $14,700. 5. Salaries of middle managers (department heads, production supervisors) in manufacturing plant $201,000. 6. Wages of production workers $947,000. 7. Salaries of administrative secretaries $104,000. 8. Salaries of engineers and other personnel responsible for maintaining production equipment $187,000. 9. Commissions paid to sales staff $251,000. Required a. What amount of payroll cost would be classified as SG\&A expense? b. Assuming that Rundle made 4,700 units of product and sold 3,760 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 Intermedlate calculetions.) Becky Shelton, a teacher at Kemp Middle School, is in charge of ordering the T-shirts to be sold for the school's annual fund-raising project. The T-shirts are printed with a special Kemp School logo. In some years, the supply of T-shirts has been insufficient to satisfy the number of sales orders. In other years, T-shirts have been left over. Excess T-shirts are normally donated to some charitable organization. T-shirts cost the school \$7 each and are normally sold for \$15 each. Ms. Shelton has decided to order 850 shirts. Requlred a. If the school receives actual sales orders for 795 shirts, what amount of profit will the school earn? What is the cost of waste due to excess inventory? b. If the school receives actual sales orders for 890 shirts, what amount of profit will the school earn? What amount of opportunity cost will the school incur