1. Sales: 31,160 units, unit selling price $88 2. Cost of one unit of finished goods: direct materials 1 pound at $5 per pound, direct labor 3 hours at $13 per hour, and manufacturing overhead $7 per direct labor hour 3. tnventories (raw materials only): beginning, 10,190 pounds; ending 15,240 pounds Selling and administrative expenses: $170,000; interest expense: $30,000. Income taxes: 30 % of income before income taxes. 4. Prepare a schedule showing the computation of cost of goods sold for 2017 SHEPPIELD COMPANY Computation of Cost of Goods Sold Cost of one unit of finished goods Direct materials Direct labor Manufacturing overhead Tetal Cost of Goods Sold Prepare a budgeted muliple-step income statement for 2017. SHEFFIELD CDMPANY Budgeted Income Statement