A review of the accounting records of Thornton 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$16,400. 3. Salary of the chief financial officer$18,500. 4. Salary of the vice president of marketing-$15,300. 5. Salaries of middle managers (department heads, production supervisors) in manufacturing plant-$191,000. 6. Wages of production workers$930,000. 7. Salaries of administrative secretaries$110,000. 8. Salaries of engineers and other personnel responsible for maintaining production equipment-$186,000. 9. Commissions paid to sales staff-$242,000. Required a. What amount of payroll cost would be classified as SG&A expense? b. Assuming that Thornton made 4,800 units of product and sold 3,360 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. Payroll cost to be included in SG&A cost b. Payroll cost to be included in cost of goods sold Required Supply the missing information on the following schedule of cost of goods manufactured. FISCHER CORPORATION Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2018 Raw materials Beginning inventory Plus: Purchases 118,000 Raw materials available for use $ 149,600 Minus: Ending raw materials inventory Cost of direct raw materials used $ 123,000 Direct labor 23,500 309,100 Manufacturing overhead Total manufacturing costs Plus: Beginning work in process inventory Total work in process Minus: Ending work in process inventory Cost of goods manufactured 47,400 $ 306,700 Mustafa Manufacturing Company began operations on January 1. During the year, it started and completed 3,000 units of product. The financial statements are prepared in accordance with GAAP. The company incurred the following costs: 1. Raw materials purchased and used$6,200. 2. Wages of production workers$7,400. 3. Salaries of administrative and sales personnel-$3,000. 4. Depreciation on manufacturing equipment-$4,400. 5. Depreciation on administrative equipment-$2,200. Mustafa sold 2,400 units of product. Required a. Determine the total product cost for the year. b. Determine the total cost of the ending inventory. c. Determine the total of cost of goods sold. a. Total product cost b. Total cost of ending inventory c. Total cost of goods sold