Requlred Indicate whether each of the following Items is representative of managerlal or of financial accounting: a. Information is factual and is characterized by objectivity, rellability, consistency, and accuracy. b. Information Is reported continuously and has a current or future orlentation. c. Information Is provided to outsiders, Including Investors, creditors, government agencles, analysts, and reporters. d. Information Is regulated by the SEC, FASB, and other sources of GAAP. e. Information is based on estimates that are bounded by relevance and timeliness. f. Information is historically based and usually reported annually. g. Information is local and pertains to subunits of the organization. h. Information Includes economic and nonfinancial data as well as financlal data. I. Information Is global and pertains to the company as a whole. J. Information is provided to Insiders, Including executlves, managers, and employees. Indicate whether each of the following costs should be classified as a product cost or as a selling, general, and administrative cost In accordance with GAAP: a. Direct materlals used In a manufacturing company. b. Indirect materlals used in a manufacturing company. c. Salarles of employees working in the accounting department. d. Commissions paid to sales staff. e. Interest on the mortgage for the company's corporate headquarters. f. Indirect labor used to manufacture Inventory. g. Attorney's fees pald to protect the company from frivolous lawsults. h. Research and development costs Incurred to create new drugs for a pharmaceutical company. I. The cost of secretarlal supplies used in a doctor's office. J. Depreclation on the office furnlture of the company president. A revlew of the accounting records of Balrd Manufacturing Indicated that the company Incurred the following payroll costs durlng the month of March. Assume the company's financlal statements are prepared in accordance with GAAP. 1. Salary of the company president- $75,000. 2. Salary of the vice president of manufacturing $50,000. 3. Salary of the chief financial officer $42,000. 4. Salary of the vice president of marketing $40,000. 5. Salarles of middle managers (department heads, production supervisors) In manufacturing plant-\$147,000. 6. Wages of production workers $703,500. 7. Salarles of administratlve secretarles- $60,000. 8. Salarles of englneers and other personnel responsible for malntalning production equipment- $133,500. 9. Commissions paid to sales staff- $146,000. Required a. What amount of payroll cost would be classified as SG\&A expense? b. Assuming that Balrd made 5,000 unlts 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. (Do not round Intermedlate calculations.)