Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You received no credit for this question in the previous attempt Check my world Exercise 10-6 Identifying product versus SG&A costs LO 10-2, 10-3 A

image text in transcribed

image text in transcribed

You received no credit for this question in the previous attempt Check my world Exercise 10-6 Identifying product versus SG&A costs LO 10-2, 10-3 A review of the accounting records of Munoz 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-$31,900 2 Salary of the vice president of manufacturing-$15,100. 3. Salary of the chief financial officer 18.700. 4. Salary of the vice president of marketing-$15,300. 5. Selanes of middle managers (department heads, production supervisors) in manufacturing plant-$791000 6. Wages of production workers-5931,000. 7. Salaries of administrative secretaries-S107,000 8. Salatles of engineers and other personnel responsible for maintaining production equipment-$185.000 9. Commissions paid to sales state5247000. Required D. What amount of payroll cost would be classified as SG&A expense? b. Assuming that Munoz made 3,000 units of product and solo 2.400 of them during the month of March determine the amount of Dayroll costat would be included in cost of goods sold (Do not found intermediate calculations. You received no cred for the LAWAN 7. Salaries of administrative secretaries $107000 8. Salaries of engineers and other personnel responsible for maintaining production equipment-$185.000 9. Commissions paid to sales start-5247. 000 Required a. What amount of payroll cost would be classified as SG&A expense? b. Assuming that Munoz made 3.000 units of product and sold 2.400 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 I mediate calculations Payroll cost to be included in SGRA Cost b. Payrol cost to be included in cost of goods sold 5 26000 1.116.000 13 Ned>

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Auditing And Other Assurance Services

Authors: Ray Whittington, Kurt Pany

21st Edition

978-1259916984

More Books

Students also viewed these Accounting questions

Question

Is the style consistent?

Answered: 1 week ago

Question

Does your strategic intent play to your strengths?

Answered: 1 week ago