This Company pays salaries twice a month and does not pay salaries in advance. Employees work five days a week (Mondays to Fridays) and compensation is computed on these working days. In December 2021, This Company paid the second semi-monthly salaries on December 26 which falls on a Friday. The next non-working holiday is on New Year's Day. This Company has 100 employees who earn P4,000 per day. This Company's cost accountant identified that 70% of salaries incurred pertain to the production of goods. How much is the accrued salaries as of December 31, 2021?

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