Question 7 View Policies Current Attempt in Progress Fultz Company has accumulated the following budget data for the year 2020. 1. Sales: 31,160 units, unit selling price $88. 2. Cost of one unit of finished goods: direct materials 1 pound at $6 per pound, direct labor 3 hours at $13 per hour, and manufacturing overhead $6 per direct labor hour. 3. Inventories (raw materials only): beginning, 10,280 pounds; ending, 15,490 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. FULTZ COMPANY Computation of Cost of Goods Sold Cost of one unit of finished goods: Direct materials Direct labor Manufacturing overhead Total Cost of Goods Sold eTextbook and Media Prepare a budgeted multiple-step income statement for 2020. FULTZ COMPANY Budgeted Income Statement e Textbook and Media Save for Later Attempts: unlimited Sub