Solution-Determine amount of payroll cost that be included

Determine amount of payroll cost that be included in cost

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Reference no: EM132977253

A review of the accounting records of Franklin 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.

Salary of the company president-$31,400.
Salary of the vice president of manufacturing-$15,800.
Salary of the chief financial officer-$19,000.
Salary of the vice president of marketing-$16,300.
Salaries of middle managers (department heads, production supervisors) in manufacturing plant-$205,000.
Wages of production workers-$930,000.
Salaries of administrative secretaries-$107,000.
Salaries of engineers and other personnel responsible for maintaining production equipment-$172,000.
Commissions paid to sales staff-$243,000.

Problem 1: Assuming that Franklin made 4,900 units of product and sold 3,920 of them during the month of March, determine the amount of payroll cost that would be included in cost of goods sold

Reference no: EM132977253

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Determine amount of payroll cost that be included in cost

Reference no: EM132977253

Reference no: EM132977253

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