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Fultz Company has accumulated the following budget data for the year 2020.

1. Sales: 31,410 units, unit selling price $89.

2. Cost of one unit of finished goods: direct materials 1 pound at $5 per pound, direct labor 3 hours at $12 per hour, and manufacturing overhead $8 per direct labor hour.

3. Inventories (raw materials only): beginning, 10,240 pounds; ending, 15,220 pounds.

4. Selling and administrative expenses: $170,000; interest expense: $30,000.

5. Income taxes: 30% of income before income taxes.

Prepare a schedule showing the computation of cost of goods sold for 2020.

Prepare a schedule showing the computation of cost of goods sold for 2020