4 BACK NEXT Questions Ayayal Company has accumulated the following budget data for the year 2017 1. Sales: 31,100 units, unit selling price $85. Cost of one unit of finished goods: direct materials 1 pound at $5 per pound, direct labor 3 hours at 2. $12 per hour, and manufacturing overhead $6 per direct labor hour. 3. Inventories (raw materials only): beginning, 10,100 pounds; ending, 15,100 pounds. 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 2017. AYAYAI 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 Prepare a budgeted multiple-step income statement for 2017 AYAYAI COMPANY Budgeted Income Statement Click if you would like to Show Work for this question: Open Show Work